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Property Management Guidance

REAL ESTATE
REAL ESTATE

Landlords in mortgage arrears

AUTHOR: Damon
23.08.2010

Again the current economic climate doesn’t just affect tenants but landlord’s aswell. Yes property is a good and a great investment and a number of people do find it to be quite lucrative. There are a number of unfortunate landlords out there who are struggling to make ends meet and sometime fall behind on mortgage payments allowing the rental property to be seized by the mortgage provider.

Obviously if the landlord has fallen behind on payments this means bad things for the current occupying tenants. The tenants will be evicted and given next to no time to vacate the property. If you are in this situation you can take it to small claims court and request more time at your own cost. Bear in mind that you may only get a few extra days.

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