More landlords forfeiting rent arrears

It appears it is increasingly more to the landlords avantage to forfeit the rent owed in the case of an eviction of a tenant than it is to chase that money through the courts.

Landlords simply do not have the time to go through the potentially lengthy process of recovering unpaid rent, it has been reported that according to  research the numbers of landlords preferring not to chase unpaid rent has risen by 11% for 2014/15.

As demand for rental  property outstrips supply and consequential rents continue to rise it is advantageous to the landlord to empty the property as quickly as possible where rent is not being paid and to get a new tenant in as fast as possible.  Landlords in  cases where they may have a buy-to-let mortgage are even under greater pressure to see payment of rent resumed. Where the property repossession has to forceably take place increasing numbers of landlords are using County Court baliffs to evict the tenants and in some cases High Court sheriffs.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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