Possible New Legislation for UK Landlords

The Times is reporting that the government plans to curb letting market abuse by forcing all private landlords to register to a new administration scheme.

In the last 15 years, the number of landlords in the UK has shot up as a result of easier access to finance. There are now around 1,000,000 landlords in the UK.

The idea behind the registration scheme is to charge a £50 fee to register with a national landlord body. This body would subsequently manage the standards that private landlords would have to adhere to in letting out their properties. Being taken off the list for not complying to these standards would mean that a landlords tenants would be forced to move out.

A forthcoming green paper is to divulge more details of the proposed scheme. It is intended that the registration fee covers the administration costs of the scheme.
Under the scheme, the government is considering placing affected tenants (of bad property management) into better private rented accommodation.

The fear is that by increasing the administrative burden, life for accidental and small time landlords would be more difficult.

The National Landlords Association spokesperson said: “We can see the thinking behind this but we need to see the details and be reassured that this is not simply a mechanism for tougher regulations.”