7th
Aug 2023
Conservative MP for Stratford-on-Avon, Nadhim Zahawi, sides with landlords over their concerns of the proposed abolition of periodic tenancies in the Renters Reform Bill, and has promised to speak to Michael Gove over issues.
A local South West estate and lettings agency’s director arranged a meeting with Mr. Zahawi and the MP is well aware of the issue in Gove’s Renters Bill and firmly believes it will hit landlords hard financially
The MP said the focus of the Bill is to “deal with rogue landlords” but he admitted that “at the same time we must listen to legitimate concerns”.
He said: “We all want a fair private rental sector. This [the abolition of periodic tenancies] will make it more difficult in terms of finance and security of tenure.
“I believe in contract law and one of the best things about investing in the UK is we have the best legal framework in the world. Contracts matter and so fixed terms make sense to me.
“It would be disturbing if they [tenants] left a tenancy under those [new] conditions. A landlord would be stuck.”
He is fully aware that the scrapping of fixed term tenancies is going to cause serious problems to both student landlords and students themselves.
Nik Kyriacou of the agents also discussed other issues for landlords and tenants during the meeting with the MP which included the obvious housing supply outweighing demand, higher tax rates imposed on BTL investors, rents rising to offset EPC rating requirements and the mortgage rate increases.
Kyriacou said: “The meeting with Mr Zahawi was extremely positive. He was receptive and responsive and has promised to look into our concerns and raise them with the government.
“He has so far been the only MP in our patch who responded to not just our letter to Mr Gove regarding the Bill, but also our requests to meet and discuss the proposals which we believe will have a detrimental impact on both landlords and tenants and could result in landlords leaving the sector.
“He has promised to look in detail at the proposals within the Bill and take our concerns to Mr Gove.”
News Archive »