Evicting nonpaying tenants cans sometimes be the worst part of being a landlord especially when times get tough and previously good tenants become unable to meet the rent.
There has been an awful lot of that going on recently so it is relief that we see evidence that the eviction rate in Wales and England has fallen by 11% in the last twelve months. On the not so bright side this eviction rate has fallen despite the fact that 43 % of landlords report that they have experienced arrears in the same period.
Easyroommate.co.uk’s Jonathan Moore, has this to say on the issue: “When house prices and rents were rising, many landlords were keen to kick out tenants who were late with the rent … because they knew that would mean increasing the rent when they got a new tenant in, or selling the place to capitalise on inflated house prices.
But in 2008, house prices stopped rising and an empty property became a landlord’s worst nightmare.”That is probably fairly accurate though I like to think that there was an element of compassion on the part of landlords as well.
I know of plenty who have accepted payment plans and even rental reductions to try to help out tenants they have grown fond of.On a side note I was very interested to hear about a product being launched by Higos Insurance Services.
It is an insurance that covers rental payments in the event of unemployment or illness. I am not quite sure how it works but it is an interesting idea well worth checking out and maybe even recommending to new tenants.
