The Association of Residential Letting Agents (ARLA) has this week reported an increase in the number of tenants struggling to meet their rental payments. Almost two thirds (65%) of members surveyed reported an increase over the last six months of those having difficulty paying their rent.

In the current economic climate tenants are frequently experiencing cashflow problems. And as a result landlords are now suffering delayed or missed rent.

It is therefore more important than ever for landlords to be fully aware of their options regarding late paying tenants.

But do you know what steps are open to you if your tenant fails to pay on time?

UK average monthly rents are £795 per month. Therefore each weeks delay in taking the appropriate action could cost almost £200.

What are the steps you need to take to recover your rent?

The best time to do your research is before this problem arises. If you do not look into your options until rent arrears have already built up you will be wasting valuable time and allowing arrears to grow further.

To help landlords I am running a seminar to guide you through the legal options available to you.  In just one hour you could be fully prepared and aware of your rights and the legal process involved in dealing with rent arrears.

How would it feel to be taken step by step through the legal options available to you?

My teleseminar does just that………

In this 1 hour seminar you will learn:

• The best option to follow if you want possession of the property
• The best option to follow if you want arrears repaid
• The typical timescale for court proceedings
• The effect of making an error in your court application
• The additional option available if you have an assured shorthold tenancy

This informative free one hour seminar will  give you a step by step guide by legal expert James Picknell of Mundays Solicitors LLP and will ensure that you are fully up to date with your options should you experience late paying tenants.

In just one hour you will get all this information at no cost to you.  Ensure your business is fully prepared for all eventualities by registering for your place today. Click HERE for details.

Clear signs of a recovery in Britain’s buy to let sector was reported last week by Residential Landlords Association (RLA) news

Rents have fallen during the past 12 months. However RLA news reported rents had stabilised in May to an average of £795. The extent of the fall in rents is seen by the fact that average monthly rent last year was £895.

Buy to let landlords are no longer adding to their portfolios due to the problems in securing appropriate mortgage funding. In addition, a number of landlords have reduced their portfolio, adding to the reduction in supply. The rise in rents is therefore due to reduction in rental properties coming onto the market.

All positive news on the buy to let sector is to be welcomed. However, I think it’s inappropriate to talk of recovery based on 1 month’s figures. Rental figures and capital values are likely to be rather erratic over the coming months as the housing market looks for stability.  But the fact that rents may have stopped falling (even if only temporarily) is a good sign amidst all the bad news the sector has had in the past year.