According to the latest information on the real estate market, the number of tenants who are seriously lagging behind debt to pay the rent almost rose to the highest level in the UK for these two years in the second quarter of 2015. Or actually currently 74,000 residents who already owe more than 2 months rent which shows that more than 5,000 households are in significant arrears from last year.
Annual growth of 7.2% until the second quarter of 2014, whereas this figure had previously stood at 69,000 in the UK. Calculated on a quarterly basis the number of cases of indebtedness shows that increased by 4.4% or 3,100 households, after standing at 70.900 in the first quarter of the year, according to reports Real Estate Reeds Rains but also part of LSL Property Services.
But perhaps as a positive fact that the recent report shows the recent venture of the condition of the serious indebtedness of tenants which are facing difficulties still relatively mild compared with the past. If we compare with the worst peak borrowing of rent which was reached in the third quarter of 2012 when 116,000 households owed more than two months overdue rent, this is significantly changed.
However, statistically it indicates that the chance of a major tenant to fall in arrears for rent is still extremely low. As a percentage of all joint tenants, those who are seriously heavy debts represent only 1.4% of all tenants, stable compared to the previous quarter and the same as seen in the previous year second quarter of 2015. It compares with 2.9% of the tenants first quarter of 2008, twice the current rate even before the worst financial crisis and recession at the same time.
Therefore, it is necessary to overcome the challenge of the need for changes in the construction of property in the UK. Better job positions on the market will be an important segment that many tenants will earn more, which could help increase rents for a certain period. For the best Tenant Eviction Service call us today on 020 8088 9015.
Important changes have been made in real estate agents and landlords, just weeks before the politeness of the law on deregulation. The main changes actually take place in section 21 of the Housing Act 1988 or known as Section 21 Notice. Michelle Cox for the faithful readers of Eye has specially written introductions which specifically focus on this theme which talk about the main reasons that should be aware. It will be no possible the rule to serve a Section 21 of the tenants lived on the property for at least 4 months. This is intended especially for landlords to stop serving section 21 until tenants move into the property.
Any notice like this can’t be expired before the end of the expiry of each final term. A Section 21 Notice will be valid for 6 months only from the moment when will come into force. That means if in case the tenant does not leave, the procedure for possession must be initiated within 6 months of the Section 21 Notice. But completely different rules apply when we talking about the notice period specified in the lease are more than two months. According to Section 21 states that will no longer be valid if the date of possession which is given is not the last day of the period of the lease.
But this is precisely the main reason why Section 21 Notice was not successful. Landowners will be able to serve 21 Section Notice whatever the circumstances when it is contrary to the legal obligations of a tenant. These commitments think the condition of the property, health and safety of the passengers and the failure to provide a certificate of Energy or a valid certificate for gas a property.
Also, if the tenant has raised a complaint against the owner or agent of the property on the condition of the property, where there are also limitations in the service of Section 21. But if in that objection is raised that did not get any proper response, or no response, but no action or decision about correcting the appeal, then the tenant has the right to appeal to the local government. If served relevant notice from the local government, then section 21 notice can respond within six months from the date of that notification.
If the property owner or agent adequately responds to this within 14 days, and the job is done properly, then all this will have no impact on Section 21 Notice. A change which has already been entered into force is the protection of deposits. All deposits have been taken, but still maintained must be protected. Once you complete protection for the certificate of deposits, all information must be communicated to the tenant. Peace of mind for your property investment with our guaranteed rental scheme, no voids or late payments, and no hidden costs.
As a landlord, you are basically giving an outsider the keys to your property. Taking the time to choose the right tenant for your property is an essential approach to secure your speculation, otherwise, tenant eviction may be required. Here are a few approaches to identify the good and loyal tenant.
1. Be aware of the Housing Rules
To find the right tenant following the rules of the housing is a must. You should not discriminate about origins, religion, race, sex etc. You may also follow the local laws too.
2. Check tenant’s income
Ask about their copies of salary or earnings and make sure their current employment, employment length, record of attendance.
3. Don’t allow tenants who are suspicion of criminal activity
Particularly, they may be keen to pay in advance in cash and may be shown up unwilling for you to do investigations. They will make your property a cannabis farm. You must think about tenant eviction certainly.
4. Perform a Personal investigation
Public record is a fact and should be viewed carefully. Tenants must have a valid ID to verify their identity.
5. Check tenant’s previous Rental History
You may talk to at least three previous landlords of them so that you can be sure about their previous rental history and then decide to give them a chance or tenant eviction.
6. Advertise your property for tenants
You may advertise your property for selecting a good tenant by letting them know that what kind of tenant you are looking for.
7. No damage of property or furniture
You should select tenants who pay rent on time and causes no damage to the furniture or the property.
8. Take help from an agency
For finding a good tenant, an agency can reduce your tension and labour. They may help you to get recommendation from the other landlords.
If you would like our tips about selecting a good tenants and more importantly tenant eviction, fill in quick call back form. We treat the properties so that you get the very best service at all times. We offer more than the competition. For a new approach to property management do not hesitate to call us.