Rent arrears rise hitting 9.1%

New survey shows outstanding rent due up again

Letting agencies Your Move and Reeds Rain have issued a report showing the ammonut owed in rent arrears now stands at 9.1% of all rents due. This is up from 8.8% the month before and up from 7.4% a year ago. The highest is recent times was 14.6% in February 2010.

“For private renting to remain an affordable option and a high-quality home for millions, the answer is more supply and more choice. That means lifting the barriers to investment in property, rather than adding fresh penalties for landlords aspiring for their own financial security” cautions Adrian Gill, outgoing director of the agencies.

“Good landlords also understand that their interests and the interests of their tenants are aligned – a tenancy should be a mutually beneficial deal. That takes expertise in managing a property and it takes commitment. Managing properties well must include regular communication with tenants, to address concerns, arrange maintenance, and to avoid the possibility of rent arrears” he says.

Written by: Houseladder