Tag Archives: Tenant Arrears

Tenants in severe arrears tops 100,000 Buy to Let News, Cautionary Tales, Landlord News, Latest Articles, Lettings & Management, Property News

The number of tenants in severe arrears has risen to a massive 100,400 as rents continue to rise while the economy and jobs falter. The latest figure is 24% higher than the same period last year.

According to the Tenant Arrears Tracker by Templeton LPA, part of LSL Property Services, the first quarter of 2012 had 7,000 fewer tenants in arrears of two months or more than the quarter just gone. While the amount of tenants in severe arrears has risen, the general level of tenant arrears has dropped as 1% more rent was paid on time than the previous month. By the end of April, 9.9% of rent was paid late, with 8.9% of all rent unpaid or late by the end of May. Continue reading Tenants in severe arrears tops 100,000


If it isn’t Written Down, it Didn’t Happen – The Evidence Is In The Communication Cautionary Tales, Guest Columns, Latest Articles, Property Investment Strategies

A few of you have talked about communication on here before, but today I wanted to talk about communication issues and the problems they can cause.

I had a landlord friend once who swore blind that the more effective form of communication he had with his tenants was on the phone. He felt it added a more personal touch to their relationship and that they respected him more for it. Continue reading If it isn’t Written Down, it Didn’t Happen – The Evidence Is In The Communication


Rising number of tenants struggle to pay rent, says ARLA Buy to Let News, Latest Articles, Lettings & Management, Property Market News

Tenants are facing a financial struggle to pay their rents, according to the latest survey by the Association of Residential Letting Agents (ARLA).

Around 40% of letting agents told their trade body that the number of tenants late with rents has increased over the past six months. Continue reading Rising number of tenants struggle to pay rent, says ARLA


Number of tenants in arrears surges 20% in a year Buy to Let News, Latest Articles, Lettings & Management, Property Market News, Tenant Eviction

Thousands of tenants are in rent arrears with a growing number adding to the total every month, according to statistics from rent receivers.

Almost 95,000 tenants were at least two months behind with their rents in the quarter ending March 31 – an increase of 20% compared with 12 months ago and a 10.2% on the last three months of 2011, says Templeton LPA. Continue reading Number of tenants in arrears surges 20% in a year


Landlords Ready for Massive Rise in Rent Arrears Buy to Let News, Latest Articles, Lettings & Management, Property Investment News

Landlords are bracing for a flood of rent arrears cases as renters struggle with their bills over the festive period.

Housing charity Shelter claims around one-in-three renters have to make a tough choice between paying their rent or spending on food. Continue reading Landlords Ready for Massive Rise in Rent Arrears


Fears for Arrears as Tenants Borrow to Pay Rents Buy to Let News, Latest Articles, Mortgage News

Landlords should brace themselves for a massive jump in rent arrears with the news that millions are seeking payday loans and other credit to pay rents after overspending during the festive season.

Homeless charity Shelter is warning a million homeowners and tenants are looking for payday loans that charge interest at rates of up to 4,000% APR to pay housing costs and other bills. Continue reading Fears for Arrears as Tenants Borrow to Pay Rents


Possession Increasingly Obtained Without Money Orders Buy to Let News, Latest Articles, Lettings & Management

Landlords across the country appear to be changing tack as the amount of successful possession orders appears to be on the rise.

Let Insurance Services have found the amount of possession orders without a money judgement is up a third on 2010 as landlords appear to be cutting their losses. Continue reading Possession Increasingly Obtained Without Money Orders


A Tenant from Hell – And a Landlord’s Revenge! Cautionary Tales, Latest Articles, Lettings & Management

Glen Ackroyd photoI thought I’d share my recent experiences of a “Tenant From Hell”

We often take on properties from landlords who have problem tenants, usually leaving us the legacy of sorting them out. Because I practiced as a Landlord & Tenant Lawyer, I head up (and personally oversee) all evictions at NPG which means we don’t have to outsource the process and we can move very swiftly. Continue reading A Tenant from Hell – And a Landlord’s Revenge!


What’s Yours is Mine – Don’t Shoot the Messenger #4 Don't Shoot The Messenger, Guest Columns, HMO's & Student Lets, Landlord Law, Lettings & Management

When a tenant has a beef with their landlord, I’m the guy they go to. My job is to either negotiate or prosecute, depending on the circumstances. This occasional and random series aims to let landlords know the common complaints that are made about them, the laws that cover them and how to deal with it.

My landlord has seized my goods.

I get a couple of these allegations a month on average. Tenant owes landlord rent money who grabs hold of 52” flat screen TV and home cinema system and says they can have it back when they pay up.

Where do you stand? On very shaky ground, people. Prior to 1977 this was permissible under a rule called ‘Detinue’ which allowed landlords to distrain a tenant’s goods and, although we are 34 years past that time and our pink Mohicans have turned into bald patches (well mine has anyway), a common belief still persists that Detinue is allowed. I have even encountered a solicitor who advised a landlord that this was permissible. Continue reading What’s Yours is Mine – Don’t Shoot the Messenger #4


Rent Arrear Calls up 84%, Claims Debt Charity Buy to Let News, Latest Articles, Lettings & Management, Property Market News

Notes being squeezed into coins

"Tenant Arrears is on the rise"

Tenants who cannot afford to pay their rents are overwhelming helplines with SOS calls.

The number of tenants in rent arrears has almost doubled since the start of the credit crunch according to debt advice charity National Debtline.

The charity reckons calls from tenants with financial problems has soared by 84% since the start of the credit crisis in 2007.

The charity warns tenant finances are not likely to improve, rents and living costs keep rising and more renters are moving into buy to lets because they cannot save enough cash to buy a home of their own.

Joanna Elson, chief executive of the Money Advice Trust, which runs National Debtline, said: “It is clear high rent costs are becoming increasingly difficult for people to meet. A few years ago many people in today’s rent market would be planning to buy their first home, but now it seems they are struggling to even pay the rent.

“The chances of these renters being able to save the many thousands needed for a deposit are very slim indeed, which will only increase the demand for rental properties and lengthen the spiral into higher and higher rent costs.

“On top of those people who call National Debtline with specific problems in affording the rent, there will be even more who are cutting back sharply elsewhere to make sure they can cover rent payments. This in turn can lead to other debt problems, with credit cards, overdrafts and loans being relied upon to pay for food and other essentials.”

Meanwhile, comparison portal MoneySupermarket.com reports that concumers are so stretched financially that a quarter (26%) confess they are stressed whenever they receive a bill.

The report has found that the rising cost of bills for utilities, credit cards and store cards has led to increasing consumer worries over how they will pay them every month.

One in four has cut spending, with 47 per cent buying less food and drink, while 56 per cent have stopped saving to pay bills instead.


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