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Landlords could put rent down to aid those with debt problems

Landlords could put rent down to aid those with debt problems

- Monday, 17 January 2011

Some landlords could put their rent down in order to help their tenants, who may be seeking debt help.

Mark Garner, managing director of LettingZone, which contains content relevant to landlords, made this suggestion.

He commented on the fact that some landlords are struggling to receive rent from their tenants.

Mr Garner said: "In areas of high demand there is no need to put rents downs but in areas of low demand you could consider it."

Landlords worried about accruing debt problems due to their tenants not paying their rent can protect themselves by carrying out a full credit check on any potential tenant, he advised.

It was also suggested that landlords take out a rent guarantee insurance product as this will cover them if their tenant fails to pay their rent, which will also ensure they do not need debt advice.

According to research from the Association of Residential Letting Agents, 40 per cent of its members reported an increase in the number of tenants struggling to pay their rent in the last six months of 2010.
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