{"id":601,"date":"2011-03-02T09:19:17","date_gmt":"2011-03-02T09:19:17","guid":{"rendered":"http:\/\/blog.legal4landlords.com\/?p=601"},"modified":"2016-09-21T13:55:18","modified_gmt":"2016-09-21T13:55:18","slug":"landlord-confidence-dips-in-february-exert-some-control","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/lforl\/landlord-confidence-dips-in-february-exert-some-control\/","title":{"rendered":"Landlord Confidence Dips in February – Exert Some Control"},"content":{"rendered":"

\"\"<\/a>Latest Landlord News by: Madalena Penny<\/span><\/p>\n

Tenants thinking they can lower the rent as they wish has been cited as one of the reasons landlords gave for feeling less confident in the rental market, according to UPAD\u2019s monthly Confidence Survey.<\/p>\n

The prospect of interest rate rises has also sparked concerns as landlords have expressed that rent margins are already too tight.\u00a0 The monthly index which measures confidence in the residential rental market has reported a slight fall in landlord confidence with a 2% drop from January\u2019s 63%.<\/p>\n

Although tenant-demand is showing no visible long-term signs of decline, welfare reform and interest rate rises has obviously attributed to slight misgivings in the private rented sector.<\/p>\n

Although landlords may feel they have little control over these factors, there are certain avenues they can take that allow them some command through the direction of tenant-management.\u00a0 The first step is ensuring the correct tenant.\u00a0 Landlords who use the services of letting agents should take the time to get to know their agent well and build a good relationship with them.\u00a0 It\u2019s important that agents understand what you want from a tenant and what your policy is on late payments, arrears etc.\u00a0 It\u2019s also worthwhile to ask your agent about their tenant referencing methods and which package they use.\u00a0 There are a few products on the market ranging in price from a basic check to more thorough tenant vetting procedures.<\/p>\n

Setting a realistic rent that tenants can achieve, despite increases reported in the sector, will allow you a steady flow and in the long-term less arrears and rental voids on property.\u00a0 Rent guarantee insurance is another worthy investment and may save you worry and expense if hit with tenant arrears sometime in the future.\u00a0 If issuing a tenancy to someone on housing benefit, arm yourself with a rent guarantor on his or her behalf.\u00a0 Again reference checks can be made on guarantors as well as tenants.<\/p>\n

UPAD\u2019s CEO, James Davis said:<\/p>\n

\u201cMore than ever this month, landlord confidence is all about the tenant.\u00a0 In some areas of the country, we\u2019re seeing rents start to fall.<\/p>\n

\u201cAs the cuts start to bite, other landlords are experiencing a variety of problems with their tenants.\u00a0 In some cases, tenants are in arrears; elsewhere, we\u2019re seeing rents start to fall.<\/p>\n

\u201cTenants are rightly reluctant to over-commit themselves, but this does worry landlords, especially those whose rent payments are only just covering their mortgages.\u00a0 There is ongoing concern about possible interest rate rises, which would be disastrous for many people.<\/p>\n

\u201cMore than ever now, letting a property isn\u2019t just about finding a tenant and raking in the rent; it\u2019s about finding the right tenant and being as sure as you can be that they\u2019ll look after both your property and your income.\u201d<\/p>\n

Sim Sekhon, spokesman for landlord network, \u2018Legal 4 Landlords<\/a>\u2019 confirmed UPAD\u2019s opinion on the sector:
\n\u201cLandlords can protect themselves from a number of external and economic factors through tenant referencing<\/a>, rent guarantee<\/a> and a host of specific insurances<\/a>.\u00a0 Although long-term forecasts appear positive, tenants can and unfortunately do run into financial problems that can cause landlords rental loss.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Latest Landlord News by: Madalena Penny Tenants thinking they can lower the rent as they wish has been cited as one of the reasons landlords gave for feeling less confident in the rental market, according to UPAD\u2019s monthly Confidence Survey. The prospect of interest rate rises has also sparked concerns as landlords have expressed that […]<\/p>\n","protected":false},"author":2,"featured_media":11204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[34,16,37,17,18,21],"yoast_head":"\nLandlord Confidence Dips in February - Exert Some Control - Legal For Landlords<\/title>\n<meta name=\"description\" content=\"The prospect of interest rate rises has also sparked concerns as landlords have expressed that rent margins are already too tight.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.withcreative.co.uk\/lforl\/landlord-confidence-dips-in-february-exert-some-control\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Landlord Confidence Dips in February - 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