The landlords guide to Prescribed Information for tenancies
Landlords are facing increasing regulation in respect of their let property businesses. Registering tenant’s deposits in a recognised scheme is now an integral part of the legal requirements for landlords.
A specific set of information relating to the deposit, known as Prescribed Information, must now be disclosed to the tenant at the start of a tenancy and it is imperative that landlords pay particular attention to how the Prescribed Information is presented.
Failure to deliver the Prescribed Information correctly could result in the tenant challenging the landlord’s Section 21 possession notice, which may be deemed invalid and be unsuccessful. Where the landlord does not comply with the rules, they may also be fined. These are unfortunate, but preventable, situations for let property owners to find themselves in.
Stride has created a useful Prescribed Information guide for landlords
The guide details:
- What Prescribed Information is
- Where it fits into the new deposit protection system
- The process for presenting the Prescribed Information to your tenants
- How failure to follow specific procedures can affect Rent Guarantee and Legal Cover policies