Despite low interest rates and signs of stability, 2010 will continue to pose some challenges for private landlords.
This is according to Landlord Assist, who says that whilst there are signs of optimism in the market, private landlords still face growing rent arrears caused by continued unemployment rates and the ongoing failure of the Local Housing Allowance system – whereby rent paid to cover housing costs is paid to the tenant, in the hope that they pass it on, instead of directly to the landlord.
In addition to facing rent arrears, landlords also continue to operate against a raft of administration and legislation in order to keep their properties let and the rents coming in.