Stratford-on-Avon MP, Nadhim Zahawi [Con] says that he shares landlords’ concerns about the proposed abolition of periodic tenancies.
In a meeting with Sheldon Bosley Knight’s associate director Nik Kyriacou, Mr Zahawi said he recognised the issue, which was included in the Renters’ Reform Bill, published by Michael Gove MP in June, would have a negative impact on landlords, not least financially.
Mr Zahawi said the driver of the Bill was to “deal with rogue landlords” but agreed “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 also recognised the issue of abolishing fixed term tenancies would be a problem for students and student landlords.
During the meeting with Mr Zahawi, Nik Kyriacou outlined other issues facing landlords and tenants including increased taxation for investors, more demand than there are properties available, increased rents and the cost associated with upgrading properties to conform with the EPC requirements.
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.”
