February 25, 2009
Buy To Let Landlords Need Educating
Buy-to-let landlords are suffering through a combination of tenants failing to keep up with their rental payments and a lack of knowledge of the schemes designed to help them in such scenarios.
Keshav Thukaram, managing director of smartlandlord.co.uk, has claimed that buy-to-let landlords need to be made more aware of the options available to them in the event of a tenant which fails to pay rent.
Mr Thukaram's call for publicity comes as the National Landlords Association published figures showing that 74 per cent of all calls to the organisation in 2008 were from landlords enquiring about missed rental payments.
Landlords hoping to attract new tenants at present could use safe storage to make a home more attractive or even create an extra bedroom, in an attempt to ease the financial burden of each tenant.
"A sustained campaign is needed to protect both tenant and landlord against the misery of repossessions. We are determined to be at the forefront of this campaign," said Mr Thukaram.
"It is vital that landlords take a proactive approach to managing their portfolio by making the best possible use of the tools available to them to save money and increase stability."
