Section 31 amends Schedule 1 of the Housing Act 1988 to add fixed-term tenancies of more than 21 years to the list of tenancies that are excluded from the assured tenancy system. This will apply to leases entered into before and after this section has commenced.
	It also adds existing fixed-term tenancies that are more than seven years but 21 years or less to the list of excluded tenancies in Schedule 1. This will apply to tenancies of this length that were entered into before the 27 December 2025. It will also apply to tenancies entered into after that date pursuant to a contract signed before the 27 December 2025.
	This section also adds regulated home purchase plans to the list of excluded tenancies in Schedule 1. These are defined by the description in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001. The Secretary of State has the power to amend the definition in relation to section 31, should the 2001 Order change.
	Subsection (3) amends section 13 of the Landlord and Tenant Act 1985 (LTA85) to preserve the current application to private registered providers of social housing. They will retain the repairing obligations set out in section 11 of the Landlord and Tenant Act 1985 for tenancies of over seven years in length that would have been assured, were it not for their exclusion under Schedule 1 of the Housing Act 1988.
	Subsection (3) also provides for existing fixed term tenancies of seven years or more that transition across to the new system, and which were not granted by private registered providers of social housing. As assured tenancies granted for a term of exactly seven years will become periodic tenancies under this Act, this subsection ensures that the repairs obligations in section 11 of the Landlord and Tenant Act 1985 will not apply to the tenancy. This will mean the repairing obligations will continue to be governed by the tenancy agreement.
	Subsection (4) amends Schedule 10 of the Local Government and Housing Act 1989 to prevent the accidental removal of the application of Schedule 10 to leases of dwelling-houses in England which would otherwise be assured but for being at a low rent.
	Subsections (5) and (6) make transitional provision. Proceedings commenced in reliance of notices served under section 8 of the Housing Act 1988 before subsection (1) comes into force may continue until they are concluded. A tenancy will remain an assured tenancy until the notice expires or the proceedings conclude.
Part 1: Tenancy reform Chapter 2: Tenancies that cannot be assured tenancies Section 31: Long tenancies and financial services products Effect