For most landlords, the number one concern is whether their tenant is going to pay the rent.
There is a variety of reasons why tenants get into arrears, and the Covid pandemic, which has seen many people’s incomes drop through furlough or disappear altogether because of redundancy, has exacerbated the problem.
Good management of a tenancy by a professional is the number one way of avoiding rent arrears problems.
According to research carried out on behalf of the government by Denton House Research, landlords that do not use a letting agent to manage their property are 272.5 % more likely to be two months in rent arrears.
A professional managing agent will have the correct systems in place to reduce the likelihood of arrears and deal swiftly with missed payments.
The world of property management can be complex and time consuming. Click below to find out how Omarentals can take the hassle out of property management: https://www.omarentals.co.uk/free-landlord-pack