It is becoming more common to default on the rent! (1 Viewer)

[Badger]

"An industry body has accused the government of dithering on legislation covering pre-pack deals and advised landlords to take extra security from tenants to protect themselves against manipulation of the insolvency system.
The British Property Federation said landlords should look to obtain guarantees from parent companies and extra deposits of up to three month's rent."
http://www.insidermedia.com/insider...rticle&utm_campaign=westmidlands_news_tracker

I am not saying it is right but putting a company into Administration and buying back the assets is becoming increasingly common to get rid of debt and unwanted leases

 

---

[blend]

It is scandalous isn't it. Contract law seems to be superseded for immoral businesses. I work in housing and it's very frustrating when tenants refuse to pay their rent. I suspect that often my customers cannot pay rather than will not pay. Wait until Housing Benefit ends and Universal Credit comes in - the nation will be up in arms that tenants choose not to use their benefit to pay their rent. They are already labelled as freeloaders. Meanwhile back in the corporate world those with millions get away with breaking all the contracts they want, largely unnoticed.

 

[Hobo]

The law is often written by people who have something to protect not by people who are in need.