chapter  9
Residential tenancies 9
Pages 48

Lettings in the residential sector have been typified by strict statutory security of tenure coupled with artificially-controlled rents. The Housing Act 1988 broadly ended rent control and reduced the difficulties in regaining possession. Subsequently the Business Expansion Scheme gave a boost to the private rented sector in providing a vehicle for investment, tax saving and subsequent realisation to show a profit. Although the subsequent recession has upset these plans, the two events have resulted in a greater supply of better type dwellings becoming available to let. As a result, the management of dwelling houses has been revived, bringing with it a need for an understanding of current law in this area if the major pitfalls are to be avoided. Tenants now enjoy greater safeguards in the assessment of service charges; certain tenants of long leasehold premises at low rents have rights to buy or to gain extensions to existing leases.