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Archive for the ‘Rent Arrears’ Category

Could Longer Tenancies Be The Key To Reducing Rent Arrears?

Rents in England & Wales have risen 4.2% in the last year (LSL Property Services) Three quarters of Upad tenants spend up to 40% of their monthly income on rent 1 in 3 Upad tenants expect to rent for 5 to 10 years or more With the latest data from LSL Property Services revealing that the average monthly rent in England & Wales has gone up by 4.2% and the cost of renting in the... Read more

Posted by Simon @ Upad on April 30th, 2013 in Rent Arrears

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Deeper rent arrears troubling landlords

There are some worrying statistics being bounced around at the moment. The most concerning being that nearly 100,000 tenants are now in arrears by at least two months: not a good sign for landlords. Hopefully your tenancies are running as smoothly as ever, but it is good to be aware that rent arrears are a growing and significant problem. The official figures from LSL property services are... Read more

Posted by Simon @ Upad on October 12th, 2012 in Evicting Tenants, Property Rental, Rent Arrears

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At last good news, property repossessions remain low

The level of property repossession in Britain has held steady in the third quarter of 2011. 9200 properties were repossessed, compared to 9100 in Q2, according to the Council of Mortgage Lenders (CML). In total, over the course of 2011, 27500 properties have been repossessed and that's down on 2010. The CML predicts there will be fewer repossession in 2011 than last year. Considering the... Read more

Posted by Dan @ Upad on November 11th, 2011 in Buy-to-let, Mortgages, Rent Arrears

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Rent arrears are rocketing: are you ready?

There's plenty of evidence around that rent arrears are on the increase, but what's more troubling is that we have a feeling that the current economic climate things can only get worse. The National Debtline, a charity dedicated to helping people with money worries, says that enquiries related to rent arrears have rocketed by 84% in the past four years. This certainly tallies with other evidence... Read more

Posted by Dan @ Upad on October 14th, 2011 in Buy-to-let, Evicting Tenants, Rent Arrears, Tips for New Landlords, Upad

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Rents rise but rent arrears rise much faster

The latest research from LSL shows that rents rose in August by 1.2% but so did the number of tenants with rental arrears owed to landlords. The increase in rental arrears, and the total amount of money owed to landlords is staggering. LSL estimate that 10.7% of all rent was late or unpaid in the month of August 2011. The total amount of unpaid rent in August was an estimated £300m, up... Read more

Posted by Dan @ Upad on September 28th, 2011 in Buy-to-let, Property Rental, Rent Arrears

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Housing benefit to be paid direct to landlords with tenants in arrears

The direct payment of Housing Benefit to landlords rather than tenants is back on the table, according to Welfare Minister, Lord Freud. In a speech to the National Housing Federation conference, he said that landlords will receive benefit payments directly as part of the new universal credit system. If their tenants fall into rent arrears, Lord Freud said that the main aim of this measure was to... Read more

Posted by Dan @ Upad on September 23rd, 2011 in Evicting Tenants, Housing Benefit, Property Rental, Rent Arrears, Social Housing

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Ask Upad: My social tenant is in arrears, how do I get direct payments?

Q: I rent a flat to a couple who receive Housing Benefit. They have fallen into arrears and I want to take action to have the rent they get paid directly to me. The tenants themselves are not being very communicative but obviously I still have expenses to meet. What do I do to get their rent paid directly to me? A: Local authorities must make direct payments to landlords if a tenant has rent... Read more

Posted by Dan @ Upad on May 25th, 2011 in Ask Upad, Housing Benefit, Rent Arrears

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Is a tenant database ethically right?

A husband and wife duo have launched a tenant database, aimed at sorting the good from the bad especially with regards to rental arrears. The Hendersons decided to start up this database in response to the horror stories they have heard over the years. The couple themselves not been without troubles over their 15 year lettings history. The figures recently released by LSL Property Services... Read more

Posted by Simon @ Upad on April 5th, 2011 in Evicting Tenants, Finding Tenants, Property Rental, Rent Arrears, Tenant Rights

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What do I do if my tenant is made redundant?

If your tenant is made redundant, that doesn’t necessarily mean you’re doomed. But forethought and communication can mean that your rental business isn’t at immediate risk. Will you even know if your tenant is made redundant? As a landlord, ask yourself this: will you be the last to know? If you think you’ll find out that your tenant is redundant only when a rent payment is missed,... Read more

Posted by Sue @ Upad on November 17th, 2010 in Rent Arrears

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How landlords should deal with rent arrears

If you’re a landlord, it’s almost inevitable that at some point you will face the inconvenience of rent arrears. And if you are a landlord for any number of years, or have multiple properties, then those chances are multiplied. So, from day one as a landlord, make sure that you are ready and have plans in place and the information to hand to deal with arrears. In the worst case scenario, rent... Read more

Posted by Sue @ Upad on November 16th, 2010 in Rent Arrears

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How do I manage LHA tenancies?

I have lost money on the last LHA tenancies I’ve taken on. I just served Sec 8 on the last one who owes me £1800 and I’m not confident of any recovery. Local Authority seems always to side with tenant so I’m not going to take on any more. Do you have have any tips on creating & managing successful LHA tenancies? To fully answer this question would take at least a few hours. However, our... Read more

Posted by Landlord Action on August 30th, 2010 in Evicting Tenants, Property Rental, Rent Arrears

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ITV Tonight “Nightmare Tenants” featuring Landlord Action

Landlord Action founder, Paul Shamplina, will be featuring on ITV Tonight Programme, ‘Nightmare Tenants’, tonight (Thursday 26th August) at 7.30pm. Mr Shamplina will be exposing rogue tenants and showing live cases, where desperate landlords are owed thousands of pounds in unpaid rent by rogue tenants. The programme is a stark warning to landlords about the dangers of letting their... Read more

Posted by Landlord Action on August 26th, 2010 in Evicting Tenants, Rent Arrears

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My tenant’s left owing me rent: what do I do?

Realistically, what are your options if your tenant does a runner leaving the property in a poor state and owing rent? In a perfect world, landlords will have completed thorough due diligence on the tenant prior to the start of the tenancy. Using a reputable tenant referencing company to obtain a report on your tenant is a must. It is also important to gather key documents prior to the... Read more

Posted by Landlord Action on August 23rd, 2010 in Evicting Tenants, Property Rental, Rent Arrears

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