Landlords face new shared housing restrictions

There may be trouble ahead for landlords of residential shared property as new legislation is proposed to give local authorities the ability to declare certain areas “no-go” zones for shared accommodation. This would apply to any landlord wishing to rent out a property that was previously used as a family home, to certain groups of tenants such as students, young professionals or nurses, effectively affecting a large portion of key rental markets. If this goes ahead, with certain areas and locations restricted to landlords of shared properties, this would replace the current requirement to obtain planning permission.

Any new legislation would complicate the already lengthy lettings process, potentially putting off prospective landlords or worse, leading to a rise in unregulated rental properties. This additional red tape would make the life of a private sector landlord inflexible, not giving you the opportunity to switch your lettings demographic easily. Traditional student areas would also be in danger, putting a stop to the generally vibrant local economies that are created in these areas.
It is always wise to keep on top of new landlord legislation, both proposed and current, to make sure that you know your rights as well as the rights of your tenants, and also if there are any cost saving exercises that you could partake in to reduce your costs. There are a number of websites that offer free advice for landlords owing shared lettings or singular buy to let investments, it’s good practice to check regularly for new updates to make sure that your rental property portfolio is in line with current legislation. It is also worth checking with a local letting agency.