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Absconding tenants on the rise

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  • Absconding tenants on the rise

    The Letting Protection Service (LPS), which provides specialist insurance, referencing and protection products for UK landlords, has reported a sharp rise in the number of tenants quitting their properties to avoid paying rent.Claims for lost rent resulting from absconding tenants increased from 91 in October 2007, to 1,286 a year later.A director of the firm, [...]

    More: Absconding tenants on the rise

  • #2
    I

    I heard of this

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    • #3
      We have certainly had an increased interest in our Loss of Rent Insurance here at our office. It is certainly more important than ever to take out such a policy. My advice would be to take it out as soon as possible. Although the number of claims has increased, premiums don't seem to have increased (if anything gone down) but if these stats are true then I would expect a rises in premium very soon. If you are thinking of getting this cover, get it now for the best deal.
      UK Landlord Insurance Specialist

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      • #4
        This isn't really a surprise given the current situation.
        Portugal Property for Sale

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        • #5
          Is there no way that landlords can track the tenants? I can't think of any ways of the top of my head because banks will not give out details but maybe from a previous address?
          Find A Flatmate

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          • #6
            I've seen the TV programs where tenants have been tracked down, taken to small claims court, given court order and still not paid!! These people have no morals and no conscience. I would imagine it would be like getting blood out of a stone!
            www.ownerhome.co.uk
            commission free property sales and lettings

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            • #7
              If someone doesn't pay after a CCJ, they are probably not the most solvent person - or about to become insolvent!

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              • #8
                We're seeing an increase in this, midnight flits, and they leave the crap behind for the landlord to tidyup.

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