Rent arrears major concern for landlords

Tenants amassing rent arrears can be a major cause of concern for landlords, it has been stated.

Chairman of the Residential Landlords Association Lee Dribben noted that problems caused could include a future difficulty to secure funding.

He explained that landlords rely on rent to pay loans and taxes, as well the maintenance of properties.

And should a tenant fail to pay "the landlord must still meet his obligations and failure to meet financial commitments will result in an adverse credit rating making it next to impossible for him to remortgage", Mr Dribben explained.

He added that in extreme cases, a landlord may even face losing his own home.

Last month the Association of Residential Letting Agents found that the number of new tenants had increased by 20 per cent in the three months up to the end of August, with average tenancies lasting 16.7 months.

  • Landlord and Tenancy News from Lawpack: Keep a legal note of your tenant's rent arrears with Lawpack's Schedule of Rent Arrears

Published on: October 28, 2008

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