Insurance News Archive

Property owners urged to take immediate action on any rental non-payments

The nationwide tenant eviction and referencing firm Landlord Assist has urged property owners and landlords to take immediate action should tenants default on payments.

While many landlords will have sufficient rent guarantee insurance in place already, Landlord Assist have urged all landlords to seek immediate actions should tenants be unable to fulfil agreed rental payments.

Since the recession, buy-to-let has become an attractive property for those who can't afford to buy. However, the cost of living has also risen and many tenants are becoming increasingly unable to meet rental demands.

Graham Kinnear, managing director at Landlord Assist, said: "The economic situation is really impacting now.

“Landlords should take early action and seek professional advice if their tenants default on payments. Arrears situations rarely rectify themselves and in the current economic climate landlords need to protect their interests."

The calls come following a recent report from the advisory charity National Debtline. This revealed an 84 per cent increase in the number of people seeking help with rent arrears over the past four years.

Posted by Dan Winters

07 Oct 2011