Latest Insurance News
Eviction 'must be faster to help landlord property insurance holders'
08 Feb 2010
Posted by Judith Stevenson
The eviction process needs to be speeded up so that landlord property insurance policyholders are not burdened by tenants who cannot pay the rent, according to an expert.
Mark Garner, founder of LettingZone.com, said that one of the things holding back the private rented sector (PRS) is the long time it takes to evict occupants when they stop paying their rent.
He explained that it can take six months or more to remove a tenant, which means landlord property insurance policyholders suffer a huge reduction in income, but still have to pay the mortgage.
"This is the major block to more investment in the PRS by local landlords," Mr Garner suggested.
He advised that local housing courts should be set up to speed up the eviction process and reduce the burden on county courts.
His comments follow the announcement by the government that it has launched a consultation on the role of the PRS in increasing supply in the housing market.
