An IVA should not affect your current lease, but we advise you to check your contract in case there is a clause that says you cannot be insolvent while you reside at that address. However, your landlord is not informed of your agreement and the property is not considered part of the IVA. Their credit score is affected during an IVA. In other words, if your potential landlord requires you to do credit checks before signing a rental agreement, you may find it difficult to rent another property during your IVA. This may also be the case for renewing a rental agreement – if you need to pass the credit check again during an extension, your landlord may raise concerns. An IVA can only be set up with the help of a receiver (PI) who knows if you have complied with the initial agreement. It could have taken several years, remember. A letter from the IP that supports your application and shows that you want to be a model tenant (financially) is viewed positively by a landlord. This means, of course, that you should stay informed about payments and not find yourself in other financial difficulties while the IVA exists.
It is therefore essential not to be in arrears of payment or in arrears of payment. The arrangement could actually improve your relationship with your landlord. Once the arrangement is in effect, you should still be able to pay your rent on time, as the necessary money is budgeted in your cost of living. ilovewelshrarebit123 an IVA appears on a rental credit audit. Rent arrears can lead to you being kicked out of your home.