High Percentage Of Rental Properties Vacated Early
The National Landlords Association (NLA) has recently published some figures relating to the percentage of investment properties that were let out around the UK that have been vacated prematurely by tenants. If you are a landlord and have not encountered such an issue then you may be surprised at just how serious the problem has been.
Apparently, across the UK, 36% of landlords have been faced with a tenant leaving the rental property without letting them know and before the tenancy agreement has come to an end. When a tenant takes such action it is probably often due to the fact that they have got behind with their rent.
The percentage of landlords that have had a property abandoned has been broken down on a regional basis as follows: –
North East 58%
North West 51%
East Midlands 49%
Yorkshire & Humberside 39%
East England 38%
West Midlands 37%
South East 35%
South West 31%
As you can see, it is the North East that has encountered this problem more than anywhere else in the UK closely followed by Wales with 58% and 56% respectively of landlords having been faced with dealing with rental properties that have been left abandoned by tenants before the rental agreement expires and without being first informed by the tenant of their intention to do so.
It is in the South West and London where the problem occurs the least with 31% and 33% of landlords respectively having to deal with this unsatisfactory situation.
When it does happen it quite likely leads to the landlord loosing money in lost rent that is something that he or she could well do without.
Of course, hopefully, the majority of landlords or letting agents will go through a thorough vetting process of prospective tenants to confirm, for instance, their ability to be able to maintain the monthly rental payments. However, there will always be some situations where the problem that we have referred to above occurs no matter what procedures a landlord has in place for vetting a prospective tenant.