Rising numbers of amateur and accidental landlords

by Paul Shamplina

16:18 PM, 1st July 2013
About 6 years ago

Rising numbers of amateur and accidental landlords

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Rising numbers of amateur and accidental landlords

Landlord Action logoThe number of amateur and accidental landlords has undoubtedly risen over the last few years as those struggling to sell their properties have instead opted to test the rental market.

Despite having no previous experience, many of these landlords have tried to cut corners by not instructing a reputable letting agent and attempting to self-manage their property. This is when most run into trouble.

Over the last 14 years, our experience of professional bad tenants has been plentiful, often evicting the same tenant from more than one property. Whilst they are the minority, this type of tenant has the intention of preying on vulnerable landlords in order to live for free. They will seek out someone new to the market who is self-managing a property and who, out of financial desperation to avoid a void period, will accept a tenant with minimum referencing.

Some professional bad tenants will even entice a landlord to let to them by offering 2-3 months upfront rent instead of providing thorough referencing, then they will refuse to make any further payments. They are often clued up and wise to the court procedures on eviction and will know how to play the system to delay proceedings.

The worse case we have ever experienced was a tenant call Antony Alexander (no relation to Mark as far as we know! LOL) who we exposed on BBC’s Inside Out programme. He cost six landlords over seven years in excess of £143,000 in unpaid rent.

If you need help to evict a bad tenant ….

Contact Landlord Action

Specialists in tenant eviction and debt collection. Regulated by The Law Society.

 



Comments

Adam Alexander

16:25 PM, 1st July 2013
About 6 years ago

Prevention is better than cure! We are interested in receiving feedback from landlords on a new solution we will be launching this August. Please see http://lettingagentsonline.co.uk/rent-collection-and-guaranteed-monthly-payment/

Adam Alexander

16:26 PM, 1st July 2013
About 6 years ago

PS - also no relation to Anthony Alexander!

Paul Shamplina

9:38 AM, 2nd July 2013
About 6 years ago

“Hi Adam, I am familiar with your scheme and as you may be aware Landlord Action are the appointed legal team for your underwriters. We wish you well with it, it’s certainly what the market needs.”

Mark Alexander

14:10 PM, 2nd July 2013
About 6 years ago

Far too many Alexander's in this thread, and it used to be such a "Great" name LOL.

Seriously though, I think the National Letting scheme should do very well.

It's not just newbies and accidental landlords who will appreciate rents being paid on the due date whether the tenant pays or not, portfolio landlords landlords will also go for this based on the very competitive pricing of just 5% of rent.

The fact that your re-insurers are using Landlord Action to deal with evictions and claims as necessary will no doubt give a lot of people confidence too.

Great idea - well done!


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