Tag Archives: Arrears

Serious rent arrears in decline

Landlords around the UK are seeing the number of tenants who are in serious rent arrears beginning to fall, according to a tenant arrears tracker. The data from estate agents Your Move and Reeds Rains reveals that in the fourth quarter of last year, around 1,500 tenants moved out of serious rent arrears compared to the third quarter. The tracker reveals that this is a 1.5% improvement over the quarter and is a reverse of the worst arrears trend seen in early 2015. When all private rented households are taken into account, just 1.6% are considered to be in serious rent arrears. In comparison, in the first quarter of 2008 there were 2.9% of tenants in serious rental arrears which was a record high. ‘Unlikely an individual tenant will fall into serious rent arrears’   Adrian Gill, a director of Your Move, said: “It’s extremely unlikely an individual tenant will fall into serious rental arrears and the proportion of those renting who get behind on rent payments has dropped considerably. “The numbers are going the right way too and there are fewer people at risk from the consequences of not paying their rent which is great news.” Alongside this, the […]

Rent arrears hit a two-year high

The number of tenants in the UK’s rental properties with severe rent arrears has reached a two year high, according to a new report. In the Tenant Arrears Tracker, which is put together by Your Move and Reeds Rains, found that there are more than 74,000 tenants who owe more than two months’ rent. The number is up 4.4% on the previous quarter and 7.2% higher than the same period last year. The figures suggest that there are now more than 5,000 households struggling with significant arrears than there were 12 months ago. However, the report also points out that while this situation appears to be serious the level of rent arrears is better than it has been historically. The worst peak of rent arrears recorded by the index   The report points to the third quarter in 2012 when there were more than 160,000 households classed as being in severe arrears. This was the worst peak of rent arrears recorded by the index. In addition, the report also highlights that the probability of a tenant falling into serious arrears is ‘extremely low’ and that the number of households in serious arrears constitutes 1.4% of all private rental tenancies. To […]

Rents rocket in four years by 18%

The cost of renting a home in the UK is rocketing with prices up by a fifth in London since 2011, according to new figures. Tenants in London have seen their rents grow at twice the national average and rents are now rising at their fastest for two years. The figures come from the Office for National Statistics (ONS) which revealed that outside of London, rents rose by 9.7% in the south-east and 7.3% in the south-west. Rent increases in the West Midlands were 5.8%, in the East of England, 7.4%, and in the West Midlands rents increased by 6.2%. Rents grew by 3.3% in Wales and 7% in Scotland. Elsewhere, rents rose more slowly: in the north-west they rose by 2.8%, in the north-east, 2.9% and in Yorkshire and Humberside rents increased by 3.3%. Rents see strongest year-on-year growth   In the year to June, rents grew by 2.5% which is the strongest year-on-year growth since January 2013. Since 2011, when the figures were first compiled, rents in the UK have grown by an average of 10.2%. A spokeswoman for the Money Advice Trust said the figures were a concern and that rent arrears will begin to increase as […]

Serious rent arrears increase for landlords

Buy to let landlords have had more tenants struggling with serious rent arrears in the past three months, according to a new report from a rent debt firm.

Landlords’ eviction problems to rocket

A key housing body has warned private landlords to prepare for a rise in evictions following changes to housing benefit later this year.

Rent arrears fall after a year of increases

Private landlords are seeing the number of tenants with severe rent arrears fall for the first time in a year.

Unexpected bills pile up for landlords

Unexpected expenses cost the average buy to let landlord £1,500 in unplanned business costs, according to a new study.

99,000 buy to let tenants in serious rent arrears

The number of tenants in more than two months arrears to private landlords was up 1.6% to 99,000 in three months ending September.