The downturn in the economy has meant more tenants than ever are not vacating their rental property at the end of the fixed term, even when a section notice is in place.
Many cases are directly down to economics, it may be that there is a lack of income to move, the referencing criteria cannot be met or a guarantor cannot be found.There may be adverse credit history since the last move, or a job loss.
These are just a few of the reasons that tenants find themselves unable to move out.More often than not they seek advice from the local Council only to be told that they will only be eligible to be re-housed if they are made unintentionally homeless.
Do you know the procedures to follow if this happens to you and do you have an insurance policy that will cover your loss and legal expenses?
Are you aware that you must not accept any further payments of rent as this implies that the tenancy is continuing on a statutory periodic basis?
If you want to ensure that the right procedures are followed and that you limit your liability then it is essential that you employ the services of experts.
We at Martin & Co Worthing have many years of experience in advising on all eventualities so your property and investment are in safe hands.
For more information, contact Martin & Co. on 01903 641518.