Longer notice periods could push landlords to sell up in Northern Ireland

admin    Uncategorized     agents

Property118

Longer notice periods could push landlords to sell up in Northern Ireland

The Northern Ireland government must “strike the right balance” under proposed rental reforms or risk landlords leaving the market, Propertymark warns.

The Department for Communities in Northern Ireland has proposed introducing some of the longest Notice to Quit periods in the UK, increasing standard notice periods for tenants to up to six months.

The current minimum notice to quit for tenancies in Northern Ireland of 12 months or less is four weeks.

Landlords leaving the sector

In response to a consultation on the reforms, Propertymark said Northern Ireland policymakers must allow landlords to regain possession of their properties.

The industry body said on its website: “With notice periods potentially rising from eight weeks to six months, Propertymark stresses that landlords must retain confidence in the possession process, particularly in cases involving rent arrears, anti-social behaviour or breaches of tenancy agreements.

“Failure to strike the right balance could see landlords leave the sector altogether.

“Landlords who experience negative experiences of evicting tenants may end up selling their property rather than face lengthy void periods where they cannot collect rent.

“This risk is particularly acute in Northern Ireland, where landlords are more likely to own smaller portfolios, making them more vulnerable to lost rental income.”

Unintended consequences

The industry body also warns that increasing notice periods without robust exemptions could have unintended consequences.

Propertymark says that while it supports shorter notice periods in specific circumstances, such as serious rent arrears, anti-social behaviour and criminal offences, it is calling for several key changes to make the system work in practice.

These include lowering the rent arrears threshold to allow earlier action against non-paying tenants. It also calls for clearer definitions of anti-social behaviour to prevent misuse and support evidence-based decisions.

The organisation is also proposing changing the threshold for criminal behaviour from “convicted” to “charged”, due to lengthy court timelines. It wants evidence requirements to be practical and consistent, particularly in partnership with the Police Service of Northern Ireland.

The post Longer notice periods could push landlords to sell up in Northern Ireland appeared first on Property118.

View Full Article: Longer notice periods could push landlords to sell up in Northern Ireland

If you enjoyed this article please consider sharing it!