Letting agency warns of rise in Managing Rent Arrears

Climb in number of tenants in serious rent arrears

The number of tenants in serious rent arrears has risen to the highest level for two years.

The claim comes this morning from LSL chains Your Move and Reeds Rains.

They estimate that there are now 74,000 tenants owing more than two months rent, as of the end of the second quarter of this year.

If correct, it means 5,000 more households are in significant arrears than a year ago.

The agents say, however, despite the recent worsening of arrears, they remain relatively mild by comparison. In the third quarter of 2012, 116,600 tenants were more than two months late in rent.

Blog Post from Property Industry Eye

Central Housing Group’s ‘Guaranteed Rent’ Scheme protects landlords from the substantial risk of tenants’ rent arrears.

Our landlords are paid an agreed monthly Guaranteed Rent for the duration of the term of their contract regardless of their tenants’ financial or employment circumstances and regardless of whether their property is occupied or not.

Consequently our landlords have complete peace of mind knowing they will not be impacted at all by the risk of incurring rent arrears or rent loss during void periods, in contrast to those landlords that let their properties in the private rented sector, with all the attendant risks and exposure of doing so.

Landlords – please carefully consider the risks you run by choosing to let your property privately when, instead, you can let your property on our ‘Guaranteed Rent’ Scheme and protect yourself from any rental loss exposure.

As a tendered supplier to many of our Council clients, our accounts are audited annually and are subject to regular scrutiny by our Council clients – landlords can therefore have complete confidence in our ability to ensure they will receive their agreed rent on a Guaranteed basis for the duration of the term of their contract with us. 

If you are interested in finding our more about our ‘Guaranteed Rent’ Scheme, currently operating in north, east & west London, please call us today on 020 8447 1222.

See details of our Guaranteed Rent Scheme here

If you have any comments, please email the author of this article and click on the link above

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