More landlords forfeiting rent arrears

July 24, 2015

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.

You May Also Enjoy

Love or Hate Rightmove
Breaking News

Rightmove asks government to consider retaining first-time buyer stamp duty threshold

New analysis shows only 37% of homes for sale will be eligible for first-time buyer stamp duty relief in England come next April, down from 58% of homes that are currently eligible Currently, a first-time buyer pays no stamp duty on properties up to £425,000, but this is due to drop back to £300,000 from…
Read More →
Estate Agent Talk

5 Steps to Becoming the Best Estate Agent in Your Town

Are you passionate about your estate agency and want to become the most noted estate agency in your local area? Finding a family their dream home can feel like the greatest accomplishment, and can be extremely rewarding. In order to become the best estate agent in town, here are some top tips for success. 1.…
Read More →
Breaking News

Breaking Property News – 25/07/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Latest property data trust framework helps digitise conveyancing The Open Property Data Association (OPDA) has released the newest version of its property data trust framework which, among other benefits, will help key conveyancing information to be provided digitally. It will be easier for consumers to…
Read More →
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker

Matt Smith, Rightmove’s mortgage expert said: “We’ve seen average mortgage rates drop at a pace not seen for a while this week, faster than many expected as lender competition hots up. The first sub 4% rate for those with larger deposits and prepared to pay a higher fee is the headline-grabber, but we’ve also seen…
Read More →
Coastal and sea front property
Estate Agent Talk

Why You Should Invest in Herne Bay Property

Herne Bay, a charming coastal town in Kent, is fast becoming a hotspot for property investment. With its picturesque seafront, vibrant community, and excellent transport links, Herne Bay offers a wealth of opportunities for property investors. If you are considering a property investment and looking for estate agents in Herne Bay to guide you through…
Read More →
Breaking News

Breaking Property News – 24/07/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   The recent UK election, with a new Labour government, is set to have significant implications for lettings. As housing is a devolved matter in Wales, local governance and devolution will play a crucial role in shaping this sector. Williams & Goodwin The Property People,…
Read More →