If you think that collecting your rent in a timely manner is harder now than it ever has been, that is hardly surprising. According to a BBC news report last week tenants are further in debt now than they have been any time since the late 80’s.
Things are extremely tough for the general population at the moment, as we know, with unemployment climbing and banks unwilling to lend money to anyone without a pristine credit history and a decent income. It is true to say that anytime tenants are suffering financially the landlord will eventually suffer too.
The report on the BBC contained an interview with a landlord from London who epitomised just how tough it can get for those who have invested in property when money gets short for tenants. This landlord was owed £9000 by tenants who had recently lost their jobs and fallen behind in their rent payments.
Of course, we all feel for previously good tenants who find themselves unemployed and unable to meet their rent payments, but people need to take into account the devastating effect this can have on landlords.
Government issued housing benefits now often go directly to the tenant. Why can we not return to the old way of it going directly to the landlord, it is designed to pay the clients housing costs after all.
The landlord in the BBC report was so stressed she had had to resort to anti depressants; I am not surprised. People forget that landlords need to pay their bills and put food on the table too.
