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.
Landlords hit by soaring rent arrears
09 June 2010
Comments
I have lost a huge amount of rent due to rent being paid to tenants who think it is to spend where and they like. There is no way of redressing the situation unless I am prepared to go to court! I even have to wait two months before I can commence repossession of my property through the court.
Buy to Let became a shame. Where on earth did all these new (property boom) landlords think good paying tenants would suddenly appear from?
And isn't it about time the new Government stopped this nonsense, paying the tenant to pay the landlord if in receipt of housing benefit!
It never ceases to amaze how the benefits department don't give a damn if the public funds used to pay for housing is spent on booze and fags and the landlord has to swing for his lost rent.