PRS Rent arrears UK’s best kept secret

PRS Rent arrears UK’s best kept secret

rent dueRent Arrears are now the fastest growing debt dilemma in the UK, but are also the most hidden debt – especially for private renting tenants.

For example:

  • A recent report revealed a total of 10,606 tenants in the West Midland borough of Sandwell were in rent arrears – owing Sandwell council a combined £5.3m in outstanding rent, council tax, court costs and other payments.
  • In Wales the percentage of tenants in rent arrears has increased for the first time since 2009, rising from 69,777 to 69,817.
  • There were 6,302 cases of rent arrears at the end of last December in Stoke-on-Trent, owing a total of £1.519m.
  • And East Dunbartonshire Council has recently been forced into writing-off £24,691 in rent arrears built up by former tenants.

However these figures just cover social housing tenants, not private renting tenants. So how can the private rented sector monitor and calculate the amount of PRS tenants in arrears accurately?

Simply by joining

Our exclusive Tenant Alert Statistics for last month revealed the most prolific areas for rent arrears and property damages were recorded in the South West area – with a total national arrears amount of £45,000+. And in 2013 the total rent defaults recorded via LRS landlords and agents equalled a massive £801,500+.

But this is only via our community of just over 21,000 landlord and agent LRS members – there are nearly 2m PRS landlords in the UK (to-date).

Until you register these tenants in arrears you will stay the ‘silent majority’ and help the Government retain their best kept secret. So help us to give the entire private rented sector a voice ; simply by joining our community (free).

LRS is primarily here to support all good landlords, letting agents and tenants, working together to protect all of our communities.

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Author: News @ Tenant Referencing

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