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Landlords are worried about rent arrears

Posted by on October 26, 2012

It is clear the Buy to Let sector is very positive at the moment and signs are all pointing towards continued growth into 2013 and beyond.

According to the latest Private Rental Sector Survey from specialist provider Let Alliance, 30% of landlords said they are looking to increase their rental property portfolio in 2013.

However, the survey revealed that 48% of landlords worry about rent arrears.

Paul Pearce, Sales & Marketing Director at Let Alliance, said “Landlords are doing extremely well at the moment. It shows when so many tell us they are looking to increase their property portfolios in 2013. On the other hand our results show there is a worry when it comes to rent arrears. The latest Tenant Arrears Tracker by Templeton LPA (part of the LSL Property Services plc) highlighted the number of tenants in severe financial difficulty has climbed by 8% in Q2 2012 with over 7,000 more tenants in two months or more arrears than stated in Q1 2012.

Paul continues; “Let Alliance provide our letting agent customers the opportunity to assist their landlord clients by providing Nil Excess 6 or 12 month’s Rent Guarantee Insurance, payable until vacant possession from just £35.00 including free tenant references”.

Letting Agents looking for innovative products, please speak to Let Alliance on 08456 850 475 for more information.

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