Thousands of Rental Properties Debts Across the UK are the ‘biggest risk to lettings market’

Thousands of Rental Properties Debts Across the UK are the ‘biggest risk to lettings market’

Over 67000 UK rental households owe over two months rent according to LSL Property Services.
Quarterly rental market analysis from the firm from October to December demonstrates that the number of people with serious arrears has increased by 2000 since the third quarter of 2013.
More people are in serious arrears which is money that needs to be recovered from somewhere.
It was anticipated that there would be more evictions than there were during the initial downturn in 2007 but there has been an increase in evictions recently. Data taken from the third quarter of 2013 said that 30807 tenants who were facing eviction was representative of a quarterly rise of 11%.
Rob Crompton Head of Debt Recovery at Michael Lewin Solicitors said.
“This debt needs to be recovered; businesses should not write off any money owed to them as a lost cause.”
Rob Crompton and his team deal with all different types of debt from different business but property is becoming more common.
“We have seen an influx of this type of debt and we want businesses to know that we want to help them get it back.”
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