Private rent arrears now stand at 9.1% ?
A recent survey examining rent arrears in England and Wales suggests the level now stands at 9.1% of all rent due in the private rented sector, in comparison to the 8.8% recorded this March and just 7.4% this time a year ago.
Carried out by two large letting agencies, the data suggests that the position is significantly better than the long-term highest arrears level of 14.6% of all rent payable back in February 2010.
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 in the PRS are gradually dropping?
With the combination of landlords and agents working 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 and leading Rent Guarantee Insurance products – LandlordReferencing.co.uk truly believe that these reasons are the driving force behind this drop in arrears.
Furthermore, in the last 2 weeks alone £80,000 worth of Tenant Alerts have been registered at LandlordReferencing.co.uk by our vigilant members; protecting our 25,000+ strong community even further from problematic tenants currently on the move right across the UK.
At Tenant Referencing UK we do everything possible to reduce the risks to landlords by continuing to educate and advise, as well as provide the most comprehensive referencing, lettings management and landlord insurance around.
LandlordReferencing.co.uk is a safe and secure membership organisation that offers good tenants better references, even if they have suffered bad credit in the past. Just have a read of these latest reviews from our tenant customers here.
We offer 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. So if you haven’t already, please consider joining the fastest growing referencing community in the UK today and make rent arrears and property damage a distant memory!