Rental reassurance

A recent YouGov survey of more than 2,000 Britons has revealed that 41% of tenants currently find it “fairly” or “very” easy to meet their financial obligations, 55% indicated that they are finding it “fairly” or “very” difficult to make their rental payments, with 5% saying unsure.

While the mood going into next year is perhaps a little more positive for tenants, with only 51% of respondents say they will find it ‘difficult’, there is however only 27% that feel the situation for them will become easier.

What about the Landlords?

When viewed alongside responses from homeowners in relation to their mortgages, it is clear that affordability is currently a big concern for a significant number of people. Just over a third (35%) of homeowners with a mortgage, said they currently find it difficult to afford their mortgage payments, with that number rising to 47% in a year’s time.

It’s a common misconception that all Landlords are wealthy individuals, with each month’s rent equating to pure profit and a healthy disposable income. In reality, many are ‘accidental Landlords’ with mortgages and other associated costs, and those costs are rising. Some of them will even be amongst the 35% currently experiencing difficulty, and the 47% expecting to find things even more difficult next year.

Let us put your mind at ease

When you’ve got a mortgage and bills to pay, what’s better than peace of mind? Andrews Property Group can ensure that Landlords receive their rent on time each month. For just over £1 a day, we can ensure that your rent is paid to you every month, whether your Tenant pays or not. Amongst many other reassuring features, our Rent and Legal Protection service covers the following:

• If a Tenant defaults on their rental payments, providing they have fully passed references, we will protect your rental payments until vacant possession on the property is gained. Once the Tenancy is in two full months’ arrears, Andrews will make the rental payments to you whilst the Tenant remains in the property. These payments will be made subject to a successful claim.

• Up to £100,000 of legal expenses coverage per claim.

• Following a successful claim, and once vacant possession has been obtained, Andrews will continue to pay 75% of the rent whilst the property is vacant or until the property is re-let with Andrews, for a maximum of 2 months.

David Bryant, Senior Regional Manager (Property Manager)