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Huge Rise In Tenants Seeking Help With Rent Arrears

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As per title. From Letting Agent Today:

The charity National Debtline has reported an 84% rise in the number of tenants seeking advice on rent arrears.

The increase has been over the last four years and highlights the problems tenants are having in making ends meet as rents, utilities and the general cost of living rise.

Now, nationwide tenant eviction and referencing firm Landlord Assist is urging landlords to take immediate action if their tenants default on rent payments. The firm emphasised that most tenants who are unable to pay do not withhold rent wilfully, but because they are fallen on hard times.

Graham Kinnear, managing director, said: “The economic situation is really impacting now. We are referencing tenants who are wanting to trade to smaller properties as they are no longer able to afford their rent.

“There are increasing numbers who are being made redundant and increasing numbers who are finding it difficult to meet their rental obligations due to soaring fuel and utility prices.

“Landlords should take early action if their tenants default on payments. Arrears situations rarely rectify themselves, and in the current economic climate, landlords need to protect their interests.

“Although no landlord can predict a tenant falling on hard times, performing credit checks at the start of an agreement can help landlords to assess the tenant’s ability to pay the rent. Landlords should also consider rent guarantee insurance policies to protect their income should a tenant fail to pay on time.”

Source:

http://www.lettingagenttoday.co.uk/news_features/Huge-rise-in-tenants-seeking-help-with-rent-arrears

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“Landlords should take early action if their tenants default on payments. Arrears situations rarely rectify themselves, and in the current economic climate, landlords need to protect their interests.

“Although no landlord can predict a tenant falling on hard times, performing credit checks at the start of an agreement can help landlords to assess the tenant’s ability to pay the rent. Landlords should also consider rent guarantee insurance policies to protect their income should a tenant fail to pay on time.”

Landlords should pay for Credit Checks and Rent guarantees, says company that sells Credit Checks and Rent Guarantees.

{Edited for Gramma'}

Edited by RufflesTheGuineaPig

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“Landlords should take early action if their tenants default on payments. Arrears situations rarely rectify themselves, and in the current economic climate, landlords need to protect their interests"

Sums it up beautifully! It is the greatest evil known to man to throw out families who can no longer afford to rent from the bank and it is 'the right thing to do' to use taxpayers money to keep them in the house.

However, for the lowly scummy family who rent*spits on floor* then they must be kicked out sharpish to preserve the taxpayer subsidised investment. Burn burn burn you BTL scum!!!

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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