Landlords Face Financial Headache

Tue, 24 Aug 2010

The National Landlords Association states that rent arrears is a huge financial headache for landlords .

Almost a fifth of private residential landlords had tenants who were in rent arrears during the second quarter of 2010, so says latest research published by the National Landlords Association (NLA).

These latest figures show that while one third of landlords did not seek to end a tenancy, nearly a quarter of them had to due to anti-social behaviour from tenants.

In addition, landlords stated that for 57 per cent of repossession cases it took tenants less than three months to move out of the property they were in, whilst 81 per cent of cases were resolved within a period of five months.

Getting possession can prove very dear for landlords, particularly when it is associated to rental arrears. A majority of landlords need to pay mortgages as well as the costs related to expenses.

A third of landlords have stated that they have paid out between £250 and £1,000 in order to have tenants removed, an amount which has to be paid out on top of missed rent payments.

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