Did you know that private landlords now account for 17% of all repossession claims in the rented property sector? OK not the most stimulating news but it’s true and up from 11% in 2004 according to legal information provider Sweet & Maxwell. What this means is private landlords not receiving rent from tenants and issuing an order to get the flat back.
In the UK, 14% of households are rented from private landlords and the high number of repossessions is attributed to the recent credit crunch which has left tenants with a reduced income. In addition, landlords have been affected themselves and have used repossession laws to quickly remove an unpaying tenant and filling the void.
