Landlords tighten tenant selection following new Act
Original Article Summary
Landlords are implementing stricter tenant selection criteria following the introduction of the Renters' Rights Act this month, according to new research from the National Residential Landlords Association. A survey of 630 landlords revealed that 78% expect to become more selective about prospective tenants. The post Landlords tighten tenant selection following new Act appeared first on PropertyWire.
PropMatch Curated Analysis
Following the Renters' Rights Act, 78% of landlords surveyed by the NRLA plan to tighten tenant selection, with advance rent restrictions and open-ended tenancy rules creating new risk management challenges and court backlog concerns threatening possession timelines.
Investor Relevance
Landlords must recalibrate tenant screening processes, reassess void and arrears risk, and factor in extended possession timelines when pricing yields and underwriting acquisitions — particularly for properties let to higher-risk tenant profiles.
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