January 23, 2013: Don’t Become A Landlord, sell your house for cash says Quick Home Buyers. Rent arrears have always been a huge problem for Landlords and in recent years with the economic crisis, landlords have found it even harder to survive and make a profit with some landlords facing financial difficulty with money owing from their tenants which have seen some buy to let landlords having their properties repossessed. Like any business you should always have a financial back up plan when things go wrong and by not making financial provisions when tenants refuse to pay their rent or due to their own financial problems can simply not afford to pay rent, landlord are being kept awake at night worrying about the growing debts due to non-payment of rent.
With some unpopular welfare reforms being announced by the government, tenants could see themselves being left with less money in their pocket which could see them being forced to take it out on their landlord by choosing between paying their rent or full rent to paying for everyday essentials. 500,000 people are currently supported by food banks and charity experts have predicted this number could increase. Although landlords are sympathetic on how the increase in cost of living and wages not keeping in line with inflation is affecting families, landlords know with the financial problems in the UK, rent arrears could increase which would leave them with financial difficulties with little or no profit.
Landlords with mortgages are bracing themselves with the expected news that interest rates could go up in 2014 which would be a financial nightmare for them with the cost of maintaining their properties increasing and the predictions that rent arrears could become all time high by the end of 2014. Some landlords are already wondering if investing in property was the right decision with more and more of their profits being eaten up with rising bills including maintenance, insurance cost and management costs if they go through an agency.
Financial experts have always said that putting money into property was a good investment and the buy to let scheme was a good way to increase your financial nest egg, now in 2013, the same financial experts are warning people against becoming landlords due to the bedroom tax and high rent arrears and instead advising investors to choose a more wiser and less hassle investment.
James Wood PR Manager from Quick Home Buyers who buys houses for cash agrees. He said: “With the high rent arrears being a landlord is not like it used to be. We are seeing more landlords visit us to get rid of their investment and the hassle that goes with being a landlord and sell their properties for cash where they get back their investment fast without the fees of an estate agent.”
2014 could be the year that landlords are forced to sell their properties to safeguard their financial interest.
For more information on how you can sell your house quickly for cash please visit http://www.webuyanyhouseproperty.co.uk/
About Quick Home Buyers:
Here at Quick Home Buyers, we are a friendly team of property experts who are leading the way in the chain free, quick house sale market. With years of accumulated industry insight and thousands of very satisfied customers behind us, we are the safest and most efficient solution to your quick home sale needs.
For Media Contact:
Business Name : Quick Home Buyers
PR Manager: James Wood
Phone : 029 2009 9000
Email: [email protected]
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