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Rental market predictions as pre-Covid notice period returns

Emergency measures were introduced as part of the Coronavirus Act 2020. Sowerbys Lettings Director predicts market movement.



Notice periods will return to pre-Covid length from 1st October 2021.
 
Emergency measures were introduced as part of the Coronavirus Act 2020 requiring landlords to provide longer notice periods when seeking possession of residential property.

This will come to an end on 30 September, the government has confirmed.

The Ministry for Housing Communities and Local Government (MHCLG) says this will allow landlords to repossess their property where necessary.

Ed Tyman, Sowerbys Group Lettings and Operations Director, said: “It is good to have clarity from the Government surrounding this. It means landlords will be able to obtain possession of their property where and when required.

“This has been an unusual and uncertain period for landlords, tenant and agents and would like to recognise the efforts of all to adapt appropriately. The team at Sowerbys have worked hard to support both tenants and landlords during this time.
 
“When notice periods return to pre-Covid levels I expect to see the market open up and be somewhat more fluid.

"I think we have seen a reduction in available stock due to fewer tenants moving home during the pandemic and longer notice periods. It should also give landlords more confidence in buy to let generally which for the private rental sector is always key."