Rent saw a rise of 4% last year as landlords, who also face struggles from the spike in mortgage rates, delegated those costs. What can agents and landlords do?
Demand and supply has been an issue within our industry for some time now, with more and more landlords exiting the market. The bank of England are now squeezing the landlord market even harder as they have increased the base interest rate to the highest we have seen since 2008. In this article we have a look at what landlords can do to protect themselves as well as what the future may hold.
A guarantor agreement and a deposit are often considered an important safety-net for landlords to recover costs owed under the tenancy agreement. If a guarantor is linked to the tenancy, the landlord may wish to pursue the tenant and guarantor or only the guarantor for the outstanding costs and this could potentially reduce delays and loss.