Landlords aided to deal with insolvent tenants
Landlords who find their tenants are no longer able to pay their rent due to insolvency are being given assistance in the form of a new guide.
The British Property Federation, in association with PricewaterhouseCoopers (PwC), have produced the guide - "A guide for landlords faced with distressed or insolvent tenants
" - which enables landlords to weigh up their options.
The landlord guide is relevant to both residential and commercial landlords and comes at a time when keeping up with rent payments is proving problematic for many tenants. Many landlords are facing the option of whether to give tenants breathing space to pay rent or to, alternatively, start tenant eviction proceedings
"Landlords are an important stakeholder and in these sorts of situations negotiations with them can be key to the survival of a business," explained real estate business recovery partner at PwC Mike Jervis.
The Association of Residential Letting Agents recently suggested that short-term tenancy agreements are an ideal way for landlords to keep their rent books looking healthy during periods of low demand.
It recommended, however, that landlords pre-arrange the cost of bills to avoid any disputes.
Published on: June 8, 2011
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