Reduce your tenants’ fuel bills by up to £300 and you may also avoid rent arrears.
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According to the Landlords Panel survey conducted by the National Landlords Association (NLA) in August, rental arrears are on the rise. Just under 50 per cent (49%) of landlords had experienced rental arrears in the previous 12 months and 37 per cent of landlords are worried about instances of arrears in the months ahead. A typical NLA member landlord, with an average portfolio of 12 lettings, has 4 tenants in arrears and the average arrears owed by tenants is £2,363.
In January this year Citizens Advice Bureau announced that 43% of people were worried about their next fuel bill, since then many suppliers have increased their charges and according to ThisisMoney.co.uk “Thousands of householders are rushing to lock into affordable gas and electricity contracts before the next round of price rises bites. Three of the ‘Big Six’ energy firms – British Gas, npower and ScottishPower – have announced price rises in the past fortnight that will take average annual energy bills over £1,300.”
Christmas has always been a time when some tenants are tempted to dip into the rent.
They “borrow” from the rent with the intention of making up the shortfall in the New Year but with increasing fuel bills for the winter of 2012 it is likely that many tenants will struggle to find the money and rent arrears will increase.
How can we help to reduce tenants’ fuel bills?
Increasing the amount of loft and cavity wall insulation in our properties will make a big difference and everyone can get these FREE.