0207 193 2028 |
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0207 193 2028 |
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Tuesday 31 March 2009 The last data suggests that almost 40% of residential landlords have problems with tenants facing payment problems. 44% of landlords reported that their tenants at least once in the last 6 months accumulated arrears in rental payments. However, latest statistics showed that only half of the landlords who struggle with problem tenants took actions to ensure that they receive payments. The fact that only half of the landlords were actually able to receive their money might be explained by the long time that courts take to offer landlords real assistance. Estimates show that an average time before courts hear the case constitutes 3 months. That is why most landlords feel helpless; however, if tenant does end up in arrears, the landlord has to require him to fulfil tenant obligations by the end of the month. The majority of buy to let observers suggest that landlords eliminate their exposure to arrears by tenants. This is especially the case if rental payments make up a large part of landlords expenses. |
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