Rent arrears figures 'horrendous' for landlords
News Category: Industry News
Published: 26-Jul-2010
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The number of landlords who are facing problems with rent arrears is "horrendous", according to the Residential Landlords Association (RLA).
Recent research by the National Landlords Association shows that one in five landlords - around 240,000 people in the UK - are suffering as a result of tenants failing to pay their rent on time.
Alan Ward, chairman of the RLA, stated that this is just part of being a landlord.
However, he said having good tenants can sometimes help the landlord to avoid the problem of rent arrears.
"If people have been good tenants over a long time then you can work with them sometimes and, if not, they have to face the predicament that they have put themselves in," he added.
Earlier this month, Spareroom.co.uk conducted research which found that 41 per cent of landlords can only just cover their mortgages with their rental income.
The website also discovered that if interest rates are increased then many landlords will find it hard to pay their mortgages each month.
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