6th
Jan 2015
Recent research states that nearly a third of all landlords across the UK, had experienced late rent payments in 2014. This accounts for up to half a million landlord who have faced this increasing occurrence. see PIMS Tenant in Rent Arrears Guide.
The research says that on average landlords can expect to experience, throughout a twelve month period, a shortcoming of £1,649 in late or outstanding rent which totals a staggering figure of £850 million.
The report found that 22% of landlords are extremely concerned about their tenants being able to fulfil their rent obligations this year.
Landlords feel that landlord licensing schemes, risk of rental arrears and the possibility of rent controls being introduced, as contributing factors to their sense of unease about the PRS (private rented sector).
Richard Merrick of PIMS said: "These issues are inherent within the private rented sector and unfortunately rental arrear problems will be predominant this month.
"January is our busiest time of year with assisting our members to follow the correct protocols, to achieve successful evictions of tenants who have refused to pay their outstanding rent.
"We provide free credit checks for all members that helps reduce the problem of late and outstanding rent payments."
Rent arrears increase at Christmas
PIMS related Content
TENANTS' HAD A GOOD CHRISTMAS AT YOUR EXPENSE? In January many Landlords experience rent arrears due to the tenants having too much of a good Christmas. Should you be experiencing rent arrears see our
Tenant in Rent Arrears Guide.
Only you can decide how much flexibility you are prepared to give and what financial exposure you are prepared to accept. No matter how upsetting the situation is, retaining your composure is paramount for whilst the Tenant is talking to you there may be a way forward. see negotiating with the Tenant.
As a contingency one should always consider serving a Notice
see the best way to serve Notice
The Basics Ending a Tenancy
Tenant in Rent Arrears Guide
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