In March 2017, a report from the NLA found that 37% of landlords had experienced arrears in the previous 12 months and 31% had property damaged. Does this mean tenants are worse than they used to be?
I don’t personally think tenants are any worse than in the past, so what accounts for the ‘high’ figures?
This is a very wide category. Rather than being malicious or serious this damage could be accidental and very small scale. It could also be that over recent years we have seen more accidential landlords who may quite frankly misundertstand what accounts for property damage and what is actually ‘fair wear and tear’.
Again this is a large category. However what I would say is, economic conditions have been very strained over the last five years. I know 1st hand this has had an impact on tenants’ ability to pay rent.
Active Property Management
There is no magic wand to remedy the above occuring. Just like tax and death they are rather unavoidable. The solution is see problems early and take action early. Thise means you need to see the warning signs, the amber light if you will. By the time you see red, it’s far too late!!
If a problem happens manage is correctly. Is it part of a bigger problem? Do I need to take some action Now? Do I need to get some advice Now?