More tenants could miss rent payments in 2009
News Category: Industry News
Published: 15-Jan-2009
This article was brought to you by Rentman the premium rent management software.
Residential lettings operators could face an increase in non-paying tenants amid the difficult economic climate forecast for the year ahead.
According to Graham Kinnear, managing director of Landlord Assist, a property law firm which provides legal assistance to landlords and letting agents, growing tenant demand could have a knock-on effect in the private sector.
He explained that with unemployment expected to rise this year, more tenants could begin to default on their rent payments.
Rent collection software could assist property owners faced with this issue, but Mr Kinnear suggested that some landlords could be forced into taking further action to exercise their tenancy agreements.
"Landlords need to tighten their belts like everyone else and if a tenant cannot pay the rent then it could affect their mortgage payments," he said.
This prediction comes after the National Landlords Association published a survey last month which revealed that 71 per cent of landlords expected rental arrears to increase in 2009.
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