A landlord’s guide to rent arrears
When it comes to concerns about letting property, tenants in rent arrears come top of most, if not all, landlord’s lists. However with rent arrears at their highest level since 2008, it is essential that landlords are aware of the laws surrounding regaining their property should they find themselves with a tenant in rent arrears.
According to figures from Northwood, the guarantee rent provider, 59 per cent of landlords experienced problems with tenants failing to pay their rent in 2012 while there was an 8 per cent increase in the number of tenant evictions.
So what can a landlord do if a tenant is in rent arrears?
“Well what they can’t do is simply evict the tenant and take back their property,” explains landlord law expert John Jones.
“As unfair and frustrating as it may appear, evicting a tenant before the end of the fixed term of their tenancy is not as straightforward as many landlords presume even if that tenant is failing to pay the rent.
“Instead it is essential a landlord follows the proper channels with the first step being to serve a Section 8 Notice on their tenant. Should the tenant remain in the property, the landlord must then obtain an order for possession from the court – all of which GW LET can assist with.”
If you are a landlord with tenants in rent arrears you can’t avoid to delay. Minimise this financial impact and contact the legal experts at GW LET.
Content correct at time of publication