Rental arrear fears for landlords

Landlords have been warned by the National Landlords Association that they face rental arrears to soar in the next 12 months as the economy gets worse.

The NLA forecasts are warning landlords they set to lose money as job losses are on the increase. It estimates that 1 in 10 working adults are unemployed.

There are more than a million buy-to-let landlords in the United Kingdom who manage their own tenants. Some of these landlords are beginners who would rather manage their own properties than employ an agent to do it. Their shortfall is that they don’t always carry out the correct checks on their prospective tenants which could cause them to lose money rather than make money.

The NLA will provide landlords with helpful information on how to deal with defaulting tenants or tenants that vanish from the property without paying. More information is available on their website.

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April 03^rd 2009

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