Abolition of Section 21 & New Lifetime Deposit Scheme

Abolition of Section 21 & New Lifetime Deposit Scheme.

The government's Queen's Speech has confirmed that these will be amongst other changes in a new Renters' Reform Bill – date to be announced.

According to a government, the lifetime deposit scheme will statement:

"will see tenants' hard-earned deposit move with them from property to property – giving tenants more control over their lives and keeping more of their cash in their pocket."

In relation to abolishing the section 21 the government says this means "landlords will no longer be able to uproot tenants from their homes at short notice and with no good reason – bringing greater security to millions of families who live in rented accommodation." Equally there will be "new powers to strengthen the rights of landlords to gain possession of their property through the courts when they have a clearly valid reason to do so, in order to create a fair market where good and responsible landlords flourish."

The Renters' Reform Bill will also give wider access to the rogue landlord and agent database, there is also mention of introducing minimum qualifications for the sector by stating the legislation will "professionalise letting agents, to the benefit of tenants and landlords".

These were all broad commitments made in the Conservative manifesto at the General Election.