PRS, ready for reform?
Categories: Real Estate
The Private Rented Sector (PRS) has a future but there are issues with it. Assured shorthold tenancies (ASTs), by far the most popular form of tenure, enable a landlord to recover possession at the end of the tenancy for no reason provided 2 months’ notice is given. With the balance of power in this sense firmly in favour of the landlord and given how the PRS has doubled since the Housing Act 1988 introduced ASTs (from 9% of households in England renting privately in 1988 compared to 20%, according to the English Housing Survey), it is high time for an overhaul.
