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Number of tenants in serious arrears falls back

The number of tenants in severe arrears fell in the last quarter of 2012, with more managing to keep up with their rents; but Shelter claim the numbers are rising…

The number of tenants in severe arrears fell in the last quarter of 2012, with more managing to keep up with their rents.

According to receivers Templeton LPA, part of the LSL group, the 15.6 per cent drop translated to 16,000 fewer tenants in severe arrears during the last three months of last year.

While that still left 86,000 in serious arrears of two months or more, it was the first fall in a year.

The firm also notes that in the third quarter of last year – which is the latest for which it has statistical information – a total of 25,756 tenants had eviction notices, a rise of 5.5 per cent on the second quarter of 2012.

During the same third quarter of last year, the number of buy-to-let mortgages in arrears of over three months stood at 21,900 – an annual fall of 15.8 per cent.

Separately, property network Move with Us says that asking rents rose 1.9 per cent across the country last year, with an average rent rise of £37 per month.

The figures fly in the face of a survey by Shelter, which claims that 1.4 million people in Britain are falling behind with their rent or mortgage payments; and that the number of people struggling to pay their rent or mortgage each month has increased by 44 per cent over the past year.

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RLA

RLA

The Residential Landlords Association (RLA) represents the interests of landlords in the private rented sector (PRS) across England and Wales. With over 23,000 subscribing members, and an additional 16,000 registered guests who engage regularly with the association, we are the leading voice of private landlords. Combined, they manage almost half a million properties.

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