Money

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

Upward Graph

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

Council High Rise

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

busy day's mass punching

Would you know if your tenant was unemployed?

The news this week from the government regarding the number of jobless people and the leap in unemployment doesn’t make happy reading. The Prime Minister David Cameron has described the current situation as being of "huge concern". Roughly, 2.5 million people in the country are unemployed, including nearly 1 million young people (that’s roughly one in five). The situation obviously varies... Read more

Posted by Dan @ Upad on January 26th, 2011 in Buy-to-let, Landlord Legislation, Mortgages, Tips for New Landlords

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Rental arrears a worry for landlords despite rising demand

The year ends on a high note for the buy-to-let industry, as an increasing number of residential landlords say that they are confident in the marketplace. Findings from the December Upad Landlord Confidence Index show that 60% of residential landlords are more confident than last month, up from 54% in November. 404 landlords responded to the question “Are you more confident or less... Read more

Posted by Sue @ Upad on December 13th, 2010 in Property Market, Property Rental

Landlord-Action

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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Landlord-Action

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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Landlord-Action

How could we make referencing more accurate?

Why doesn't somebody in the letting industry run a database where comments about tenants and landlords can be made so as to make referencing more meaningful? This can be quite difficult since there must be some sort of control and regulation to avoid abuse. Before we know it, there could be tenants and/or landlords suing each other for defamation. However, Landlord Action do flag up serial... Read more

Posted by Landlord Action on August 16th, 2010 in Evicting Tenants, Property Rental, Rent Arrears

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Landlord-Action

How do I ask my tenants to leave if they’re not paying rent?

The best way to go about asking a tenant to leave is by following the letter of the law. At Landlord Action, we strongly advise against taking shortcuts because this is likely to cause landlords more problems at a later stage. When one of our landlords wants a tenant to leave, depending on the circumstances (for example, there might be rent arrears, the property may be damaged, the tenant... Read more

Posted by Landlord Action on August 10th, 2010 in Evicting Tenants, Rent Arrears

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Landlord-Action

What if my tenant stops paying rent?

I have houses - no debts, old family properties. For the first time ever I have someone not paying rent. Should I get solicitor and go to court? This is an option, however, the reason that my business partner and I founded Landlord Action over 10 years ago is because we felt that solicitor's fees were too high and they always took too long to take action. Back then, nobody seemed to be aware... Read more

Posted by Landlord Action on August 5th, 2010 in Evicting Tenants, Property Rental, Rent Arrears

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Landlord-Action

Tenant’s left cash and belongings behind : should I be worried?

My tenant’s left, owing more rent than their deposit covers. They’ve also left belongings behind and some cash. Can I keep/sell those to cover the shortfall? In the ten years that Landlord Action has been trading, we have never heard of a tenant leaving cash, or indeed anything of significant value that would warrant selling the items to cover a shortfall – that would be a first.... Read more

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

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Landlord-Action

How do I deal with a non-paying lodger?

I have a lodger who’s stopped paying rent. Is there anything I can do apart from change the locks? A lot will depend on whether there is a written agreement in place or not. These days, a landlord may allow a friend to stay in a spare room, or annex. Sometimes, these friends outstay their welcome. In this scenario, if there is no written agreement in place, it is usually acceptable to change... Read more

Posted by Landlord Action on July 28th, 2010 in Property Rental

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