UK Landlords facing rent arrears and bad tenants

According to PropertyWire published in January 2014, almost a third of landlords in the UK had experienced rent arrears within the 6 months previous to this and over 40% believed they would face rent arrears in the upcoming year.

For the past six years, tenants falling behind with their rental payments have more than doubled. The Money Advice Charity’s, telephone helpline received nearly 20,000 calls from people behind on their rent in the first nine months of 2013, which represents a 37% increase to the 2011 figure for the same period.

Rental payments across the country have reached an all time high and a recent survey found that 31% of people, say paying their rent represents more than a third of their monthly, disposable income. The recognisable referencing criteria states that the rental amount should be no more than 40% of gross earnings, to minimise the risk of missed or delayed rental payments.

This whole article can be read at: http://www.propertywire.com/news/europe/uk-landlords-bad-tenants-201401168679.html

Go Let offer a unique service to guarantee your ‘Rent On Time’, irrespective of if your tenant defaults in their payment or pays late. This service relieves any anxiety about late or missed rent payments by your tenants and is inclusive in our management fee. This service will also cover any legal costs and evictions, if this became necessary.  There is no excess for this service and the monthly management cost for the landlord is competitive with other local businesses, who are not offering the ‘Rent On Time’ service.

Georgina Kelly