Landlord insurance clients at the high end of the market need to be aware of changes to the Assured Shorthold threshold. From 1st December 2011 in Wales the threshold increased from rents of £25,000 to £100,000. This follows the same increase that took place in England in October 2010. This means that virtually all rentals in England and Wales will become subject to the Assured Shorthold regime because very few houses are rented for £100,000 or more.
Landlords will need to make sure that their documentation and procedures are up to date.
One important point is that landlords must protect the tenants’ deposit and must issue written details to the tenant to explain how this has been done.