Rental reforms are on the horizon – but we’re all still waiting for confirmation for when they’ll come into effect. But that doesn’t mean you should wait before checking your cover.
Pre-existing and ongoing legal disputes are often excluded from policies, so being proactive and arranging cover prior to any disputes arising is crucial. Otherwise you could find yourself caught out.
With the Renters’ Rights Bill set to eliminate Section 21 no-fault evictions and shifting every claim onto Section 8’s stricter evidential requirements, extended notice periods and brand-new statutory grounds, having live cover means expert guidance is available the moment you need it.
It’s likely that the proposed stronger tenant safeguards could make possession claims take longer and cost more. But a good policy locks the cost to you for advice lines, document drafting and legal defence.
By bundling rent arrears cover with your legal expenses’ protection, you can not only recover lost income after just one missed payment but also finance eviction proceedings and rent recovery, protecting your cash flow and future-proofing your portfolio against the turbulence of tomorrow’s rental landscape.
Millie Andrews, Business Development Manager