Court fees going up
Using the courts as a landlord is something we all hope not to have to do. However, the reality is that it is often called upon as a last resort for landlords looking to regain possession of their property after a spout of rent arrears or non-payment. It’s difficult to budget these costs into a business plan as they are often unpredictable. This is why we always encourage landlords to budget to receive 10 months out of every 12 months’ rent.
But new court fee rises could mean that landlords need to set even more money aside for those worst case scenarios. Court fees are going up from the 22nd April 2014. And they’re going up significantly from £175 for a standard eviction to £280. There will be increases on a range of fees including money claims fees and various others.
Here’s what Alan Jakeway, NLA Advice Line Manager, says about the changes:
“These price rises significantly increase the costs for landlords. Ending a tenancy and regaining possession of a property is already an expensive measure for landlords and this is going to put more strain on their balance sheets.
I would anticipate that any landlords considering taking proceedings will rush …read more
Source: National Landlords UK