7 Jan

Landlords raise rent arrear concerns

Landlords raise rent arrear concerns

A new study shows that 32 per cent of UK landlords experienced some form of rent arrears during 2014.

The figures from the National Landlords Association (NLA) reveal the average landlord has rent arrears totalling £1,649 - equally £850 million of unpaid rent across the private renting sector.

Therefore, the NLA are calling for the industry to do more to protect landlords from tenants who do not meet their financial obligations.

A new campaign from the NLA entitled 'rent, risk resolve', aims to highlight how landlords can take steps to prevent such problems having an impact on their business.

As well as rent arrears, the association has called for more landlords to be aware of the risks of a possible increase in interest rates, the introduction of rent controls and local landlord licensing and regulations.

Carolyn Uphill, chair of the NLA, said: "All landlords will be affected by one or more of these issues to some extent somewhere down the line and it’s vital to keep in mind the major threats to the success of your business.

"Regardless of the size of your portfolio the potential impact of these risks can be devastating on both the business and personal life. As the largest landlord association in the UK, we have a duty to support and advise on how to plan ahead effectively and manage these risks."

Landlords can contact the NLA to get a free guide on how to deal with rent arrears and possibly prevent them happening in the future.

Tips include ensuring that the correct checks are carried out on potential tenants to confirm their financial details and references are satisfactory, as well as making sure any initial missed rent payments are noticed swiftly so the problem can be rectified sooner rather than later.ADNFCR-1222-ID-801769161-ADNFCR

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