- London’s private rented sector has doubled in size since 1991 (London Assembly)
- £240 million of late rent owed across England & Wales (May 2014, LSL Property Services)
- Innovative new Rent on Time product guaranteed to safeguard landlords‘ income
According to the London Assembly London’s private rented sector (PRS) has doubled in size over the last decade, now accounting for 1 in 4 households.
A trend witnessed from Lands’ End to John O’Groats, the PRS continues to grow at a staggering rate with new research by Direct Line Insurance stating that 3.2 million homeowners in the UK are planning to rent out parts of their property or their whole property as a short term let, or take part in a house swap during the next 12 months.
Managing rental properties can be a profitable business as long as you manage your cash flow successfully. The biggest factor for landlords affecting cash flow management is the ability to collect rent on time, as more often than not, at one time or another, landlords are bound to have a tenant who pays their rent late – or worse not at all!
In fact the latest data from LSL Property Services reveals that some £240 million of late rent was owed across England & Wales in May 2014.
Kirit Lakhani, Senior Partner & Co-Owner of Charles Derby Estates Notting Hill comments,
“As a hands-on landlord for 20 years, I know from personal experience that the biggest monthly concern landlord’s face is getting the rent in full and on time. Whether the tenants can’t pay the rent, only have part of it or simply won’t pay, whatever the story, all too often the chase for rent happens which is such a waste of valuable time and money.
“Understanding this frustration and in an attempt to do things differently here at Charles Derby Estates Notting Hill, we are proud to offer to our landlords Rent on Time. Thisinnovative and competent product ensures all landlords receive their rent on time, every time, without having to go to the trouble of making claims or having to pay extra fees.”
Devised by an expert team with experience spanning over 80 years in the property lettings industry, Rent on Time is unique concept ideal for landlords who want to have a contingency plan in place should their tenant not be able to pay their rent for whatever reason.
Lakhani goes on to comment,
“Rent on Time does exactly what it says on the tin; pays your rent on the due date no matter what. It guarantees seamless cash flow on your property portfolio as it will pay the rent on time, even if the tenant defaults. Landlords can rest easy in the knowledge that their monthly rental payments are guaranteed and fully safeguarded. Having employed the product on all my rental properties, I know I do!”
For more information on Rent on Time and Charles Derby Estates Notting Hill please visit http://www.charlesderbyestatesnottinghill.com/ or call 0207 792 1777. You can also Like the dedicated Facebook page or follow on Twitter.