UK Tenant Evictions Increase Again

Tuesday, May 19, 2015
Tenant Evictions Increase Again

Tenant Evictions Increase Again

Tenant Evictions Have Now
Reached A Record High

According to new Ministry of Justice data released last week, tenant evictions have now reached a record high with 11,307 tenants evicted from rental properties in the first quarter of this year.

However, the majority of tenants evicted are reported to be proportionally higher for the social housing sector.

This could be due to more and more PRS landlords using rent protection insurance to cover any loss of rental income after tenants default on monthly payments often due to a sudden change in circumstances.The data published by the Ministry of Justice shows that 11,307 tenants in England and Wales were evicted from rented properties in the first three months of 2015 – up 8% on 2014 figures, making the number of tenant evictions recorded the highest ever observed in a single quarter for 15 years, when records first started to be kept.

Campbell Robb - Shelter

Campbell Robb

Campbell Robb, chief executive of the housing and homeless charity, Shelter described the latest tenant eviction figures as: “A glaring reminder that sky high housing costs and welfare cuts are leaving thousands of people battling to keep a roof over their heads. Every day we see the devastating impact of a housing market at boiling point, with the cost of renting so high that many families are living in fear that just one thing like losing their job or becoming ill could leave them with the bailiffs knocking at the door.”

Sim Sekhon

Sim Sekhon from the UK’s largest specialists in tenant evictions, Legal 4 Landlords, said: “We know the worry that comes with the sudden change in tenant’s circumstances, that’s why we developed our rent protection insurance to offer both landlords and their tenants with a little peace of mind guaranteeing the landlord’s rental income, and the policy even covers the cost of evicting the defaulting tenants. Legal 4 Landlords have over 30 years experience and operate with a specialist and highly experienced in-house eviction team to offer customers an unrivalled level of service, which helps reduce the amount of time taken to evict tenants. We’ve carried out thousands of case reviews; court hearings and we serve several hundred notices every month.”

If landlords act immediately that they become aware of tenant’s defaulting on rental payments, then the risk can be minimised. On average PRS landlords are usually about four months in rent arrears before any action to evict tenants is requested, that is additional income that may be lost.

Landlords need to remember that property rental is a business, and there is a real need for avoiding void periods, maximising rental income and increasing rental yields.

So, whether you’re a landlord or letting agent, you will be in safe hands with Legal 4 Landlords as they are the experts and chosen specialist service provider to hundreds of letting agents across the UK, dealing with tenant issues on behalf of PRS landlords.

Rent Protection insurance from Legal 4 Landlords

This was written by Mike Clarke. Posted on at 11:30 am. Filed under Eviction, Insurance. Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink. Follow comments here with the RSS feed. Both comments and trackbacks are currently closed.