Rental arrears will increase endangering homes
In a recent report created by the National Landlords Association (NLA) it was shown that a staggering 71 of landlords would expect to see a rise in rent arrears, leaving tenants unable to afford to pay the rent, evolving into mortgages not being able to be paid.
Due to these figures it is important that landlords have a good communication with their tenants so that they can ensure that regular rent is being received. It is also important to have credit checks and references done on the tenants you choose.
The even more worrying part of these facts is that if rent is not being collected landlords are going to struggle to pay their mortgages, leading to possible repossession. Not only does this mean the landlord looses the property, it can also jeopardise the tenant’s home.
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December 08th 2008
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