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Landlords and tenants 'must manage debt'

Landlords and tenants 'must manage debt'

- Tuesday, 31 March 2009

Poor debt management by tenants could be putting not just their own home at risk, but also their landlords' property, it has been warned.

The National Landlords Association (NLA) explains that rent arrears can leave landlords unable to make mortgage repayments on the property.

In turn, this raises the risk of repossession - leaving the landlord without their property and the tenant without a home.

David Salusbury, chair of the NLA, says: "Paying the rent has to be right at the top of tenants' priorities."

"Even one month's arrears, in this climate, could be the straw which breaks the camel's back," he adds.

With 44 per cent of landlords having faced tenant arrears over the past six months, the figures could highlight the importance of debt management for people in rental properties.

The NLA previously revealed that landlords are finding it harder to manage debt due to tenant arrears, with almost three-quarters of calls to the NLA advice line relating to unpaid rents.ADNFCR-2300-ID-19099666-ADNFCR
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