The latest quarterly Landlord Survey compiled by BDRC Continental shows that rental arrears are at there highest ever level since the study began in 2006.The study shows the inexorable rise of rental arrears continues with 34% of landlords being affected in the last 12 months, the highest proportion ever recorded in the survey.
Mark Long Director at BDRC Continental says “Although there are indicators in this quarter’s research that suggest the private rental market is stabilizing, it is too early to refer to this as a ‘recovery’. Britain’s private landlords still have to cope with uncertain economic conditions and arrears are at the highest level since the research began in 2006.
These figures coincide with the release of other statistics showing that landlords filed 23 per cent more repossession claims against tenants during the credit crunch.
Legal claims to evict tenants increased from around 17,000 in 2004 to over 21,000 in 2008, according to legal publisher Sweet & Maxwell.
Both figures indicate that despite a relatively buoyant rental market landlords need to thoroughly reference their tenant and be proactive in managing non paying tenants.
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