Rent arrears hits 52% of Landlords….

7 06 2011

More than half of landlords have suffered late rental payments in the last 12 months, with concern growing that the situation will worsen as benefit cuts hit cash-strapped tenants, according to the National Landlords Association(NLA).

It’s research revealed that, of the 600 landlords surveyed, 52 % experienced rent arrears in the past year, with the average late-paying tenant owing £730 in outstanding rent.

David Salusbury, chairman of the NLA, said “It is concerning that more than half of Landlords have received late rent payments or no rent at all in the past year. The government cuts to housing benefits will only put further pressure on tenants who are struggling to pay the rent on time. Landlords are unable to absorb this cost of rent arrears long-term, as they have their own financial commitments such as mortgage repayments, which could increase further with the predicted rise in interest rates.”

Rent arrears are steadily increasing and the danger is that this trend will continue. Landlords should consider either insuring against loss of rent or using a managing agent for Rent Collection service. For further information on these please contact us at stoke-on-trent@belvoirlettings.com or telephone 01782 321400.

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