Housing legislation is currently undergoing a variety of
changes which will affect how the property industry
carries out its future business.
There are a range of Government proposals in the pipeline
which are all at different stages of the legislative process.
Some are at the pathfinder stage while others have
already moved into the draft stage and are only a few
steps away from being put into practice.
These proposed changes will affect agents,
homebuyers, homeowners, home sellers, landlords and those on
benefits helping to make their lives easier and protect
them from the pitfalls of the property industry.
The following list outlines some of these proposed changes and
how they will affect landlords:
-
Home Information Packs - Due to be introduced in June
2007 requiring anyone selling a home to provide key
information ensuring the process becomes more certain,
transparent and consumer-friendly and less stressful with fewer
failed transactions
-
Local Housing Allowance - Likely to be introduced
nationally in April 2008 although legislation still has to be
passed. Already on trial with 18 different local councils
- Tenancy Deposit
Schemes (TDS) - Due to be introduced in April
2007 altering the way tenants deposits are held. Landlords
will not be allowed to take a tenant's deposit unless it
is safeguarded by either a custodial or
insurance-based TDS
-
Housing Tenure - A project to modernise and simplify the
law on housing tenure via a simple system of secure and standard
contracts replacing the existing assortment of tenancies and
licences
