Anyhow - worth publishing this story as it is a testament to Brookdale's strict Tenant selection criteria and our ability to offer a non-insurance based guaranteed rent scheme.
Landlords are currently seeing 37 per cent of their tenants in arrears according to research published today by the National Landlords Association (NLA).
Over the last six months, 44 per cent of landlords have experienced rental arrears, contributing to the significant rise in repossessions and the growing number of landlords having problems meeting their mortgage repayments.
The NLA said when faced with arrears, 50 per cent of landlords attempted to recover the loss of earnings through the courts. The research found many landlords were waiting for over three months before their case was heard, and one respondent said: "The court process for evictions takes far too long which could potentially lead to hardship for many landlords, especially smaller ones."
David Salusbury, chairman of the NLA, said: "This is becoming a serious problem for landlords all over the UK. Paying the rent has to be right at the top of tenants' priorities as even one month's arrears, in this climate, could be the straw which breaks the camel's back. The mortgage has to be paid and the vast majority of landlords do everything in their power to make sure this happens.
"It is important to remember that only about 35 per cent of rental properties are secured on existing buy-to-let mortgage finance.
"Contrary to recent reports, most landlords are not expecting to be repossessed and lose their asset. Landlords and tenants need to communicate and work together to tackle financial problems before they result in a loss of rent and a potential default on mortgage repayments."