Preparing for The Renters Rights Act – Landlords, what should you do to prepare? This bill is in its final stages and looks to become law in early Autumn. There are so many changes and Landlords are naturally very concerned about what they should be doing to prepare. For existing tenancies, there is not a great deal that can be done. However, if you have very difficult tenants, rent arrears, antisocial behaviour or any other serious concerns about your current tenants, perhaps now is the time to use the Section 21 while you still can. For all new tenancies we cannot recommend more strongly that landlords take out rent & legal insurance cover (very few providers offer cover on existing tenancies) in order to protect themselves in the event of tenants failing to pay rent or refusing to move out. This new legislation with put enormous pressure on the court system and will create significant delays in obtaining possession. Hence, rent and legal insurance cover with provide peace of mind and financial assurance if the worst were to happen. This legislation will bring many additional administrative requirements such as additional prescribed information at the start of the tenancy, landlord registration, changes to notices, changes to rent increases to name but a few. Failure to adhere to this raft of new legislation will not only seriously impact on the ability to obtain possession, but also could come with financial penalties. Hence, if you are not using an agent, we can only strongly recommend you use a good local letting agent who is fully prepared and trained for this new legislation. Aldreds lettings are here ready to assist and give sound, practical advice and award winning service at very reasonable fees.