Updating post from Reddit.
If a tenant signs a 24 month contract now with no break clause - would they be able to exit with a two month notice once the renters reforms come into place?
Yes they would as all agreements will then by law to default to become 2 month notice. I'm a landlord and have been given the notice and what to expect. Still has to be agreed by parliment however. Expected spring.
From an estate agency perspective, why is it in their / LLs best interest to still secure longer term tenancies?
Security for both landlord and the tenant but that changes with the new bill. The s21 will be removed too.
Any chance this does not become law by this year?
Not really sure but probably will.
Do you mean this Spring or next spring?
This spring
Now is almost summer. 😓😓
Apparently all tenancies will change to periodic under the new rules. When that is going to happen is not yet known, but, safe to say it will be within the next 6 to 9 months.
As the bill stands at the moment, yes.
Yes. But keep abreast of LLs obligations relating to notice periods under the new bill, as theres plenty of pain ahead. (If it passes)