Landlords hit by soaring rent arrears
News Category: Industry News
Published: 09-Jun-2010
A quarterly survey of 500 private landlords has shown that rental arrears have reached their highest level since the research began in 2006.
The survey, by market research agency BDRC Continental, found that in the last 12 months, 34% of landlords have had tenants who fell into rental arrears.
The amount of tenant debt could reverse a slightly improved trend in buy-to-let landlords’ own debts.
According to debt charity Credit Action, the number of buy-to-let landlords who are in arrears of more than 1.5% fell in the first quarter of this year.
At the end of March, the figure stood at 19,300 or 1.56% of all buy-to-let loans, compared with 20,700 (1.69% of loans) at the end of 2009.
The number of buy-to-let properties taken into possession in the first quarter was 1,400, up from 1,200 repossessions in the preceding three months, but the same as a year ago.
Article courtesy of Estate Agent Today Sign up for EAT newsletter
