As more private rented sector tenants are falling into severe arrears, Belvoir Sheffield is warning landlords of the importance of thorough credit checking and reference procedures.
The latest Tenant Arrears Tracker found 94,000 tenants in severe arrears, an increase of 4.8 per cent over the December 2012 figure.
According to the new report from LSL, they now represent 2.3 per cent of all of tenancies in England and Wales.
Rick Flay, Director at Belvoir Sheffield, who offer a wide range of rental property in Sheffield, said: “These figures will come as a shock to many landlords in Sheffield, and it highlights how important it is to professionally check any tenants moving into your property.”
LSL said severe arrears over the past 12 months are now 20 per cent above the long-term average and that eviction by court orders are also running at a record level and 10 per cent higher than a year ago.
Rick, whose letting agency on Campo Lane in Sheffield, specialises in providing flats to let Sheffield, added: ” By using the detailed credit checking service, landlords can eliminate some of the risk associated with non paying tenants. Prior to a tenant moving in, Belvoir Sheffield would run thorough credit checks and get references for all parties who intend to move into the property.
“This should ensure that from day one, you are moving the right tenants into the property and are selecting only those who will respect their surroundings and return everything as they found it at the end of their agreement.”
Belvoir Lettings Sheffield is the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances and Mortgages.
