Agents urged to act on arrears before Renters’ Reform Bill passes
Original Article Summary
Letting agents are being urged to focus on arrears management in light of the Renters’ Rights Bill returning to the House of Lords today. The legislation will extend the eviction threshold in England for tenant arrears to three months before an eviction notice can be issued, up from the current two months. Dr Neil Cobbold, […] The post Agents urged to act on arrears before Renters’ Reform Bill passes appeared first on PropertyWire.
PropMatch Curated Analysis
The Renters' Rights Bill will extend eviction notice threshold from 2 to 3 months for tenant arrears, making immediate arrears management and automation critical for landlords and agents to minimize rent losses.
Investor Relevance
Critical for all landlords as it directly impacts rent collection procedures, extends exposure to non-paying tenants, and increases potential rental losses. Requires immediate review of arrears management processes and potentially investment in automated systems.
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