A Stern Warning for Residential Landlords
A recent publication released by the National Landlord Association has suggested that landlords are often heavily out of pocket as a result of initiating possession proceedings themselves. This is due to following factors:
- Private tenants are now being advised by local Councils and agencies to ignore eviction notices served by their landlords and to wait to be evicted by bailiffs. This will allow tenants to qualify for emergency housing as they face the risk of becoming homeless.
- The other issue encountered is when the wrong procedure is followed by landlords attempting to save money and deal with the proceedings themselves. This can become very expensive to put right.
On average, residential landlords are being forced to pay nearly £7,000.00 to evict their troublesome tenants!
Although the National Landlord Association has not specified the breakdown of these figures, we would envisage that these will be made up from rent arrears, Court fees and bailiff costs.
Whether you are someone considering becoming a residential landlord, or a landlord with existing tenants, it is crucial that you are correctly advised on relevant legislation and the correct procedures to follow during these tenancies. Our advice could save you significant sums of money in the long term.