The government is expected to release a White Paper tomorrow which will an increase in longer tenancies and a ‘Build to Rent’ scheme.
Once the paper has been released we will update this blog but in the meantime, here is a summary.
At present, there are no details on how the government expect these longer tenancies to be implemented. The government has simply stated that the long tenancies would be “flexible… with tenants who prefer a shorter tenancy still able to take up shorter tenancies”.
The Build to Rent proposals will be implemented by altering the affordable housing rules. These changes will allow developers to offer a discount rent on certain Build to Rent apartments.
It is possible that the white paper will be of little interest to many landlord and agents as it appears to be directed mainly to the larger institutional landlords but we suspect it will have something that affects everyone to a degree.