Landlords and tenants urged to build better relationships

Landlords and tenants should build better relationships and a better understanding of each other’s financial circumstances, according to the National Landlords Association.

A survey of its members suggested that some 40 per cent of landlords are financially vulnerable if tenants miss just one payment.  And very small scale businesses – so called “accidental landlords” – are particularly at risk.

The NLA urges property owners to be more sympathetic to the financial circumstances of tenants; it also advises that landlords should budget more cautiously,  suggesting they base their business plan on receiving ten months rent in any 12-month period. 

Carolyn Uphill, chairman of the NLA, said:

“There are instances when tenants are unable to meet their rental commitment; circumstances change and finances take a turn for the worse. In these situations, landlords should be sympathetic to their tenants’ needs. Part of this involves investing in good relationships with their tenants so that they are able to be open about any financial difficulties or future plans. If the landlord knows what’s happening, they can work with the situation.

“Being a successful landlord requires effective communication, which in turn can help to reduce missed payments and voids that can have severe financial implications for many.”

To support landlords and tenants in their efforts to deal with issues such as rent arrears, the NLA has created two guides. Landlords and tenants can visit www.landlords.org.uk/arrears to download the guides and find out more.