Graham Kinnear, MD of Landlord Assist said: "Many landlords take the view that one property at £1000 per month requires less management and repair than two at £550 per month. However this is not necessarily the case and the situation appears to be changing as higher earning tenants are bearing the brunt of the economic slowdown."
To prevent arrears Landlord Assist is appealing to landlords to get all their tenants referenced prior to handing over the keys.
Stephen Parry of Landlord Assist said: "In the current economic climate vetting your tenants will go a long way to ensuring that you are likely to receive rent payments. We are always staggered that landlords can hand over keys to their properties after one meeting – it really is a false economy."
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