Insurance News Archive
More landlords 'seeking advice on rental arrears'
Nearly three-quarters of calls made to the National Landlords Association (NLA) over the last year were from buy-to-let owners seeking advice about how to deal with tenants who are struggling to pay their rent, it has been revealed.
Over 30,000 proprietors phoned the advice line over the past 12 months, an average of 2,500 per month, with concerns ranging from cannabis farms to flooded houses.
Second on the list of the most frequent enquiries was the Energy Performance Certificate, while requests for more information about finder's fees came in third.
The NLA states that tenants are increasingly defaulting on their payments due to the recession, causing problems for buy-to-let owners.
"No landlord wants to serve notice on a tenant, but the reality is landlords are forced to do this when rental arrears becomes serious," says Richard Price, director of operations at the organisation.
Recently, Simon Zutshi, founder of Property Investors Network, said people who are considering becoming landlords should make sure they know what they are doing by speaking to others who are knowledgeable about the business.
23 Feb 2009
