A lot of changes will be made to the tenancy act to favour the landlord. Likely to become law very shortly will be:
90 day no cause termination is back and will enable the landlord to be able to end periodic tenancies without requiring a specific reason. This should mean more security for landlords especially when taking a chance on a tenant without the strongest history. For some specific reasons the notice period can be shorter – 42 days when:
- the property has been sold with a requirement to give vacant possession.
- the property is needed for an employee (and this is in the tenancy agreement).
- the owner, or their family member, requires the property to live in as their main residence.
This coupled with the tax changes and the easing of some lending rules may see the return of the investor market. Currently only the brave have been buying investment property.
