Housing Minister James Brokenshire has finally announced the government’s planned policy to offer buy to let tenants a mandatory three-year tenancy.
Speaking to an audience at think-tank The Policy Exchange, released some scant details of the move that was outlined in the last Budget by Chancellor Phillip Hammond.
Brokenshire’s speech was themed on giving everyone a decent, affordable and secure home.
“Private rents no longer track people’s earnings. In some parts of the country you can expect to spend more than half of your salary on rent,” he said.
“We should never forget the people behind these numbers. People who just want a fair chance.”
The minister went on to describe his policy priorities, which include:
- New laws to limit leasehold charges on new homes and capping future leasehold flats to peppercorn rents;
- A consultation aimed at extending tenancy agreements to a minimum of three years;
- A further call for evidence aimed at establishing a housing court.
“We are bringing real change to make renting more secure,” said Brokenshire.
“I know this is particularly important for the growing number of families, vulnerable tenants and older people who rent and live with the uncertainty of suddenly being forced to move or fear eviction if they complain about problems with their home.
“Which is why I’m announcing the launch of a consultation today on overcoming the barriers to longer tenancies in the private rented sector.
“We’re proposing a new longer tenancy model, of a minimum of three years, with a six-month break clause to allow tenants and landlords to exit the agreement early if needed.
“I will also be launching a call for evidence in the autumn to better understand and improve the experience of people using courts and tribunal services in property cases, including considering the case for a specialist housing court.”