Private Rent Arrears decreasing as Social Housing debt rises
Last month Landlord Referencing Services recorded a significant dip in it’s unique Tenant Alert upload system compared to the month before.
This begs the question: what with more and more landlords and letting agents networking together to reduce the risk of taking bad tenants on – is this why rent arrears are gradually dropping?
For example, official figures show that in the North West of England the number of renters more than 2 months behind with the rent fell from 105,000 to 68,000 in the first quarter of 2014.
However on the social housing side, for example
- just one month into its financial year Leeds City Council have written off more than £11,000 in rent arrears.
- 60% of Sandwell residents affected by the Spare Room Subsidy (AKA the bedroom tax) have already fallen behind on their rent payments.
We will be able to tell from this months statistics whether it’s mainly down to our members going on holiday over the April period – but with the combination of landlords and letting agents networking together, tenants realising that they must toe the line and pay their rent (otherwise they will have no where else to go), private rented properties becoming harder to come by and the launch of the UK’s Best Tenant Reference – LRS truly believe that these reasons are the driving force behind this drop in arrears.
This also raises the important point of Local Authorities joining Landlord Referencing Services.
In order for councils to reduce the public spend on temporary accommodation, offer people nice, secure homes and offer landlords decent returns and confidence that their properties and the communities that they have invested in will benefit from good tenants – all that they need to do is join the LRS community.
We already have:
Landlord Community Watch is not about black listing “bad” tenants – but about providing decent accommodation to good tenants, who deserve to enjoy a comfortable existence where they live and get on with their neighbours.
LRS is a safe and secure membership organisation that offers good tenants better references, even if they have suffered bad credit in the past. LRS offers landlords and letting agents direct contact with one another in order to reference against those tenants who perhaps do not meet their contractual obligations, willfully destroy property or whose lifestyle disrupts the life of neighbours and communities.