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Rent arrears figure remains low

3rd September 2010 | back to article listings BACK    print this article PRINT

New research has shown that the number of people falling behind with rent payments remained at a low level despite the pressures of the economic downturn.

In a study carried out by lettings agent network LSL Property Services, just 16%of landlords in the UK reported an increase in rent arrears over the last 12 months.

The remaining 84% of landlords revealed the number of tenants unable to pay their rent remained unchanged or had fallen.

According to LSL, the majority of the landlords reporting a rise in late payments said the number had increased a minimal amount.

And figures show that those living in cheaper accommodation were more likely to run into problems than those with higher rents to pay.

The research showed that those in rent arrears paid an average of £472 a month - 30% less than the national average.

The group estimates that the total amount of rent that remained unpaid in July was £213 million, the lowest level since it began compiling figures two and a half years ago.

The figure is the equivalent of 9% of all rent due across the UK, down from 11% in July 2009, while only 2% of tenants owed two or more months' rent.

The fall came despite the fact that average rents have risen for six consecutive months during the past year.

Copyright © Press Association 2010

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