Wednesday, 1 June 2011

Rent-to-Buy Tenants Face Eviction

One Housing Group is evicting tenants who expected to rent their homes for up to three years, to sell their properties on the open market. In a landmark move, the 12,000-home landlord has served 43 notices under section 21 of the Housing Act 1988 on tenants of its rent-to-homebuy scheme. Tenants claim the move breaks the spirit of the initiative. The £300 million rent-to-homebuy scheme was launched by the previous government to help people buy a home. Labour ministers boasted it would do so by allowing tenants to ‘rent a new build property at less than market rent for a pre-specified period’ to help them save enough to buy. OHG is serving notices before the maximum three-year rental period advertised has elapsed. Read more on Inside Housing.

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