A new law has been passed in Parliament that will offer renters significantly more protection and certainty, enabling them to stay in their homes for longer and lessening the threat of homelessness.
It has been described as one of the biggest changes to renting laws in 30 years and aims to improve the system for over 11 million private renters and 2.3 million landlords in England.
However, many landlords are unhappy with the changes, arguing that it threatens their stable income and can have damaging effects to the rental market.
Amein Nasser, landlord and owner of S10 Estates, said: “The costs involved will hammer the small landlords, it’s going to be very difficult and I really do not envy them.
“If they have one issue with the tenant then they could go bust. This is how dire it is.”
Typically, landlords have held majority of the power when it comes to renting, but it is hoped the new law will give renters more rights and greater ability to manoeuvre.
Nasser initially welcomed the modifications to the law and said: “It sounded something that could work for everyone because anything that gives anyone rights is a good thing.
“But when you look at the details it’s completely one sided. It’s anti small landlord, I think it’s made for the corporates.”
One of the biggest changes is the ban on no-fault evictions, which is where a landlord asks a person/family to move out, without giving a reason. This will now prevent people being uprooted with no prior notice and valid justification.
Rent increases can now only occur once a year and the tenant must be given two months notice, matching the rate of other properties of similar value in the same area.
A change to contracts also now provides tenants with far more flexibility. Previously, landlords could require people to sign fixed-term tenancies but now properties have to be rented on a periodic or rolling basis.
The act will see Nasser change his approach to his business that he has ran for decades.
He said: “I’m working towards moving my properties to a letting agent in the next six months.
“I’m seriously thinking now about reducing my properties, because I’m at the age where the extra grief isn’t worth it.”