Landlords waiting longer than expected to reclaim property

Landlords waiting longer than expected to reclaim propertyTory MP Kevin Hollinrake has been raising some questions, and in the process revealed some fudging of the stats by the government with regards to property repossession.

The truth of property repossession

Those applying for the issuing of a repossession order know that it takes a while for the order to process. The government quotes a time of 16 weeks, supposedly backed up with research, but recent questions have brought into light that this is not the case. While the median figure is 16 weeks, the average is, in fact, closer to 22 weeks. There are regional differences as well, with the number rising to 25 weeks in London but dropping to 18 in the South West of England.

The consequences

What this means is that when things go wrong, it’s the landlords that are increasingly paying the price. For most landlords, it’s inconvenient and troublesome to wait five months or more to repossess a home, and it’s made even worse by the fact that the property is more often than not unusable during this time. That’s nearly half a year of no revenue, and both landlords and tenants have to struggle in legal limbo.

According to RLA, many landlords are relying on section 21 ‘no explanation’ evictions, because they do not require evidence of a breach in tenancy. Unlike section 8 evictions that often go through lengthy court proceedings, section 21 evictions follow a process known as ‘accelerated possession’, which avoids court proceedings where necessary. It’s not immediate – often taking weeks or months – but it is much faster than the five months that the court would otherwise take.

A more efficient way

Repossession should always be a last resort. Often, it is the result of poor efforts at mediation, and it costs both you as a landlord and your tenant as a result. Enlisting the services of professional landlord and tenant mediation solicitors from Romain Coleman can save you the hassle of waiting five months for a repossession order and paying the ensuing court fees.

To find out more, get in touch on 0208 520 4555, or contact us online and we’ll be happy to help you.

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