Local estate and letting agent Thornton Robson is warning landlords to be extra careful when choosing new tenants.
According to new research, rental arrears is the UK’s fastest growing debt problem.
Greg Brady, who works at Thornton Robson, said: “The Money Advice Trust has advised the number of calls to its National Debtline on this issue have grown by 146 per cent since 2007 and by 37 per cent over the last two years alone.
“This is more than any other form of debt. Landlords need to be very careful in the current climate, especially private landlords who often dispense with the services of an agent and do their own referencing and tenant checks.”
He said it is essential to use a reputable referencing company who will do thorough checks on the tenant’s financial and employment history.
Greg said: “Here at Thornton Robson we use several leading referencing agencies depending on what our clients want.
“The different providers each offer different solutions and various rent guarantees including the option for landlords to have their rent paid on time every time guaranteed! Whether the tenant has paid or not.”
For more information telephone Greg Brady at Thornton Robson on (01788) 547000 or visit their Henry Street office.