Abolition of Section 21 Newly sourced sector options: Data for use

At the beginning of 2022, leading property inventory service provider, Assist Inventories, surveyed over 10,000 letting agents and landlords to gather data for their Sectors Snapshot report.

The data gathered has since been published in a document only available to download from the Assist Inventories website. Notably the report includes exclusive commentary on the data by Rentround Founder, Raj Dosanjh.

Landlords and agents disagree if the abolition of Section 21 will cause an exodus of landlords – 73% agents | 40% landlords 

75% of landlords will now become more selective when choosing tenants

45% of landlords will now offer short-term lets only

90% of landlords and 70% of lettings agents now want clear and comprehensive grounds outlined for possession when required

60% of lettings agents believe that further reforms of Section 8 is now required

58% of landlords think that more financial support is required for tenants in risk of rent arrears

75% of landlords think that cheaper court costs are required

48% of landlords believe that the abolition of Section 21 will balance rights with 33% of agents agreeing

16% of landlords believe the abolition of Section 21 will balance relationships with 25% of agents agreeing

Leading expert, Raj Dosanjh, Founder of Rentround comments:

‘The abolishment of Section 21 is clearly a worry area for agents and landlords, with many disagreeing with the move. Due to the additional risk the abolishment will bring to landlords, it’s obvious that many will move to shorter tenancies and more stringent tenant background checks. This will make it harder for tenants with blemishes on their record, or those looking to get long term residencies to rent in the future.’

Kindly shared by Assist Inventories

Main article photo courtesy of Pixabay