Buy to Let Rent Arrears Just in One City Near Manchester top £1m
Manoj Patel, director at Hamlet Homes, which is based at Warrington Business Park pointed out in a recent article that just in Warrington which is between Liverpool and Manchester, buy to let landlords are owed an excess of £1m.
Mr Patel says the personal finances of some of Warrington’s landlords and tenants have been ‘ruthlessly strained’ during the past 16 months during Covid – and that 737 Warrington tenants are in arrears with their rent to the tune of £1,046,046.
“That’s money these landlords need to pay their mortgages with and even to live off themselves,” he added.
Can you imagine being a buy to let Landlord? This story is repeated all over the UK. We have buy to lets and we have drama. Conversly we have been investing more and more in social housing properties. Less drama and more stable rents. With our social housing providers, we have never had a late pay or no pay.