Flexible landlords will survive downturn, says RLA
News Category: Industry News
Published: 23-Jan-2009
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Landlords who keep a flexible outlook in the current financial climate should avoid problems caused by tenants losing their jobs in the economic downturn, says the Residential Landlords Association (RLA).
Chris Town, director of the landlord advisory body, agreed that some landlords could struggle due to tenants losing their jobs in 2009, but said this will also be dependent on their property types and the rent levels they receive.
Landlords who use letting agents to provide them with tenants could be relying on them to pass on reliable renters in the new year as they struggle to meet buy-to-let mortgage repayments in the current financial climate.
On ways rented accommodation owners can survive the downturn, Mr Town added: "Landlords who are not currently in the housing benefit market should find out about how it operates and discreetly check on their tenants' financial position."
His comments come as Office for National Statistics figures released today confirmed that the UK is in a full-blown recession after two consecutive quarters of negative economic growth.
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