Home  Landlords  Rent arrears experienced by approximately 50% of landlords

Category: Landlords

Rent arrears experienced by approximately 50% of landlords

Reading Time: 2 Mins Read

Almost 50% of landlords have experienced tenants falling into rent arrears, new research reveals.  

Landlords have also reported having to cover the cost of repairs at the end of a tenancy, with 26% of tenants breaking things in the property and then refusing to foot the bill for necessary repairs.  

The issues which many landlords face has resulted in 37% of landlords claiming their greatest concern to be poor tenants.  

Though tenant deposits are intended to cover the cost of repairs at the end of a tenancy, if cost of repair work exceeds the deposit amount, a landlord is unfairly left out of pocket.  

The majority of landlords – 60% – own just one buy-to-let property and use this investment to supplement their income. However, there are fears that landlords with smaller portfolios may be more inclined to sell their buy-to-let in response to a raft of tax and legislation changes.  

But landlords looking for security and a regular rental income can arrange for guaranteed rent to cover their property investment for up to five years. Guaranteed rent ‘guarantees’ landlords no loss of income, even if they experience a void period.  

Find out more about Assetgrove’s guaranteed rent scheme or for further details on this story, click the link below: 

Bdaily 

Neil Jennings

Neil background is in marketing and business development and has over 20 years experience in the field. He runs Asset Grove and is involved in the marketing strategy for most of our campaigns.

Related Post

How to become a landlord
Updates: 12 Mins Read
How to become a landlord

Check out our complete guide to becoming a landlord including responsibilities and regulations…

When should I change the locks on my buy-to-let property?
Updates: 4 Mins Read
When should I change the locks on my buy-to-let property?

Should landlords change the locks at the end of a tenancy? Is it a good idea for landlords to change the locks between tenancies? Read this article to get some advice on when to change the locks on your buy-to-let property.

What is rent guarantee insurance?
Updates: 4 Mins Read
What is rent guarantee insurance?

Rent guarantee insurance provides cover for landlords, should their tenants fail to pay their rent. Unlike building insurance, it’s not a legal requirement to take