Private Landlords And The Autumn 2024 Financial Budget

The Autumn 2024 financial budget announced on 30 October 2024 will have a wide-reaching impact on multiple sectors, including the private rental market.

Landlords may think twice about expanding their property portfolios and tenants may be forced to make tough financial decisions which could contribute to an increase in rent arrears.

Now may be a good time to consider your possession options.

Possession Options

In order to regain possession of a residential property let by way of an Assured Shorthold Tenancy, the process is started by serving a section 8 notice or by  serving a section 21 notice. The usual process for evicting a tenant from a residential property involves:

1. Issuing a relevant notice to your tenant
2. If the tenant does not vacate the property at the end of the notice period, issuing possession proceedings through the local county court
3. Obtaining an order for possession (at a hearing if needed e.g. if the tenant defends the possession claim)
4. If the tenant fails to vacate the property by the ordered deadline, instructing bailiffs to enforce the possession order and evict the tenant.

For more information on the advantages and disadvantages of either the section 8 or section 21 routes, please see – Residential Property Possession Actions

Rent Arrears

A common issue plaguing landlords is rent arrears. If you are looking to regain possession of your property and recover existing rent arrears, you could consider serving a section 8 notice and commencing possession proceedings.

There are also other options available which do not involve obtaining possession. These include sending a claim letter, and if payment is not made, issuing a debt claim in the county court, or serving a statutory demand.

For more information on recovering residential rent arrears, please see – Residential Property Rent Arrears Claims

Changes to the Law

Following calls for reform to Housing Laws, the government are proposing to implement a Renters’ Rights Bill designed to reshape the private rental sector. The biggest change proposed in this Bill is the abolishment of section 21 “no-fault evictions”.

For the latest on this, please see, Renters' Rights Bill - An Update 

How Can CWJ Help?

CWJ is able to provide specialist legal advice to private landlords. We have expertise in acting for landlords who are faced with a range of issues, including rental arrears resulting from increased financial pressures. If you need advice in relation to this, we can help.

We will work with you to review your position and determine the best option available to you.

For further information call Ife Kehinde-Taiwo on 01689 887803 or by email ife.kehinde-taiwo@cwj.co.uk.