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Property legal services news
New EPC rules for all landlords and agents
7 February 2012
HS2 land payment scheme agreed
2 February 2012
B P Collins joins forces with Fairchild Dobbs
31 January 2012
'Clarity needed' over green property laws
19 January 2012
Call to extend stamp duty exemption
18 November 2011
Local authorities planning to enforce Article 4 of HMO legislation
28 October 2011
One-fifth of landlords saw arrears in past quarter
27 July 2010
One-fifth of private residential landlords have experienced tenants in rental arrears over the past three months, it has been revealed. Figures from the National Landlords' Association show a small improvement on the previous quarter, when 24.5 per cent of landlords reported arrears.
Additionally, the average amount of outstanding arrears has dropped considerably from £978 in the first quarter of 2010 to £799. However, Alan Ward, Chairman of the Residential Landlords Association, described the figures as "horrendous", particularly as demand for rental property is on the rise.
"There are insurance policies of course, [but] the bigger problem is when it gets up to a couple of months and then they put their tenancy at risk and you might seek repossession," he commented. Some 41 per cent of landlords say rents from their tenants barely cover the monthly mortgage repayments on their properties and a similar number are worried that an interest rate rise will put them in financial difficulties, Spareroom.com reported earlier this month.
If you require legal advice, for either your private affairs or organisation, please call Buckinghamshire based B P Collins Solicitors on 01753 889995, complete the online enquiry form or email enquiries@bpcollins.co.uk.
Posted by Jan Collis.
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