Rent collection service aims to offer landlords ‘financial security’


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Unpaid rent and rent arrears are the main reason for tenant evictions, according to Belvoir’s Q1 rental index, but that could soon be about to change thanks in part to the launch of a rent collection service that incentivises renters to pay their rent on time.

Rent arrears can cause landlords major financial problems, with TheHouseShop recently reporting that rent arrears cost landlords in this country more than £900m each year.

The property marketplace provider claims that part of the problem for landlords is that rent payments often fall behind other outgoings, such as utility bills or mobile phone payments, in the list of tenant’s financial priorities, mainly because unlike most other regular monthly payments, rental payments are not reflected on a tenant’s credit history.

 

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