According to a survey conducted by the National Landlords Association (NLA), rental arrears are on the rise.49% of landlords questioned have experienced rental arrears in the last 12 months and 37% of landlords are worried about instances of arrears in the months ahead.
According to the research, a typical NLA member landlord, is owed £2,363 by tenants.Arrears problems are also affecting small scale landlords (landlords with one letting), including accidental landlords, who make up a large proportion of all landlords. In fact, according to the NLA, 16% of landlords with one letting are making a loss on their investment.
One way for landlords to minimise rental arrears is to thoroughly check tenants before handing the keys over. NetRent are encouraging all landlords and letting agents to join TenantVet.
This free service enables landlords and agents to register every tenant and let other landlords and tenants whether the tenant has been a good tenant or not.Landlords and agents thinking of renting to a tenant can check their rating on TenantVet – again at no cost.
TenantVet complies with data protection legislation and is being used by an increasing number of local authorities who are also recommending TenantVet to landlords and agents in their area.NetRent believes that if landlords and agents work together by registering every tenant the numbers of tenants in arrears will decrease. Good tenants will be rewarded and bad tenants will be ‘named and shamed’.
But TenantVet will only work if the majority of landlords and agents join and register their tenants. Remember – this service is free and once you are logged in it takes just seconds to complete each tenant.Help yourself and other landlords and agents and join TenantVet now.
Or ring NetRent on 01352 721300 or use this form ContactNetRent