NOTTINGHAM, England, August 29, 2012 /PRNewswire/ --
It has recently been reported that there has been a rise in the number of evictions as a result of tenants falling into arrears. Just Landlords have been looking into the harrowing issue that has left a large number of people struggling to afford accommodation.
Just Landlords, a leading landlord insurance provider, has also looked at how this is not only an issue for tenants across the UK, but it's also a serious issue for any landlords that may be letting to tenants in arrears.
Richard Berridge, Managing Director of Just Landlords, has been quoted saying: "Even the best checks and references cannot predict a tenant falling on hard times and not being able to pay their rent, so start by building an open and honest relationship with your tenant at the very beginning and if they go into arrears you can try and work together and if necessary start a payment plan or negotiate an early ending to the tenancy to avoid major losses."
Landlords can potentially fall behind on their mortgage payments if any of their tenants fall into arrears. During financially difficult times, being a landlord is far from a bullet proof source of income. If a landlord has a good relationship with their tenant then working out a payment plan could be a great solution for the tenant and the landlord as the tenant will be able to continue living in the property whilst the landlord will then be guaranteed their money.
Mr Berridge went on to add: "If there has been a change in their circumstances, check they are receiving any benefits they may be entitled to. If this doesn't work and without a Rent Guarantee and Legal Expenses Policy, recovering arrears can be difficult and costly for landlords, without any guarantee of success."
Furthermore, the eviction process is a rather lengthy one that many landlords choose to avoid. However, for some it can, unfortunately, be one of the only ways to move forward and resolve a rent arrears issue should the problem become so severe.
Just Landlords provide more than just landlord insurance as they also offer Rent Guarantee Insurance, Holiday Home Insurance, Tenants Contents Cover and a whole range of other insurance services.
For more information, or to request a quote, please visit their website.
SOURCE Just Landlords