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Monthly Archives: December 2014

Concern Over Rent Arrears

There is no doubt that, for many, making the decision to enter the investment property marketplace for the first time is a big step to take. You will be involved in carrying out some number crunching to establish if it is going to be financially viable but those profit projections can be affected by a number of things. For instance, a big concern amongst some landlords is if they take on a tenant that proves to be somewhat uncaring when it coms to looking after the property whilst they are living in it. Yes, you will no doubt have landlord insurance but if a tenant trashes the place and destroys many of the fixtures and fittings and steals some of the furnishings it could eat into your profit. Recent research by the National Landlords Association (NLA) has revealed that 32%, almost a third, of landlords here in the UK have had tenants that have gone into arrears with their rent in the last year. That is around half a million tenants – a sizeable number. On average these landlords are faced with trying to retrieve rent arrears of £1,649 from each tenant. – that is over £800 million. Another interesting…

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