Landlords should think carefully before attempting to remove good tenants who resist rent increases, advises Landlord Action founder Paul Shamplina - or risk replacing them with tenants who stop paying rent.
'If you have a good, reliable tenant who is financially stable, then my advice is to continue building a strong relationship and hold onto them,'� he says. 'Some landlords may be looking at the impending abolition of Section 21 and be tempted to remove existing tenants but it's often the tenants you least expect that cause you the greatest problems.'�
The evictions expert believes that if someone can't pay, you should engage with them early and work through it. 'Any repayment agreement should be reasonable but firm and captured in writing to make sure that both parties are clear on what has been agreed and how long for,'� says Shamplina.
He adds that it's also a good idea to find out what their plans are '� do they want to stay, or do they plan to move on? 'Keep checking in on your tenants and if necessary, work together with them to find a solution that works for you both.'�
Shamplina acknowledges that property management is becoming more difficult, especially with so much regulation, and the looming Renters' Reform Bill. If you have been a self-managed landlord, maybe now is the time to consider using a letting agent to fully manage that property for you, he advises.
This year will be challenging for a lot of landlords, he adds. 'The uncertainty on mortgage rate rises will be the greatest issue'�but the huge positives are that, because of a lack of rental stock, landlords have never been able to choose from so many tenants battling it out, meaning lesser void periods and a better pool of tenants to pick from, with higher rents achieved.'�