3 Years Running: Buy-To-Let Legal Services Award
The number of buy to let tenants with serious rent arrears is expected to tip 100,000 soon, according to rent receivers.
Almost 95,000 tenants were two months or more behind with their rents at the end of March with the number growing at the rate of 10.2% from the last three months of 2011 and 20% from the same time this year.
The courts are also granting more eviction orders for landlords, with a rise of 9% in a year, says Templeton LPA, part of LSL Property Services, the UK’s largest letting agents managing brands like Your Move and Reeds Rains.
Paul Shamplina Founder of Landlord Action ‘ It has become very clear, that with rising rents, more tenants in the market place, the cost of living become expensive for some, along with job losses. Also some landlords themselves struggling financially and are taking action quicker in eviction process, that’s why figures on evictions have increased. I also believe that the LHA capping is now being seen as evident, as more landlords bailing out of this market place and wanting to rent to private tenants and not LHA tenants in London.’
‘Figures generally rise in the first quarter after the Christmas break, because of tenants over spending also and finding it tough to juggle their finances’.
Landlord action was set up by landlords for landlords with problem tenants. That is, tenants who are in rent arrears or break some other part of a tenancy agreement. Landlord & tenant law is a specialist area and we found solicitor charges were too much and too vague. When you have a bad tenant you want to evict them fast. Any landlord would want a bad tenant out. they want advice and help with the law. And that's what we do. We are experts in this area and unlike solicitors, we only act for landlords, never tenants. And we'll help recover the outstanding rent. Our free advice line is open to all landlords and we have carried out thousands of evictions.