are on the rise. 13 per cent of tenants have gone into arrears in the past three months. In addition to this, over 50 per cent of tenants are concerned about their ability to pay their rent going forward. This news adds further misery to the UK mortgage market as buy to let owners were left financially strapped by a growing number of tenants who failed to pay rent.
Its findings showed that 95 per cent of tenants in privately rented accommodation had no kind of income protection in place to assist them if their financial situation changed due to unemployment, critical illness etc. This was of concern after recent statistics showed jobless levels in the UK were on the rise and redundancies were increasingly hitting the headlines.
Landlords and Letting Agents would be well advised to ensure that they have rent guarantee in place for their buy to let property portfolio. Letting agents should also advise their landlords to ensure they use a quality referencing service and also advise their landlords to get rent guarantee.
Stay ahead of the buy to let game, visit LetSafe today. www.letsafe.net
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