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Tuesday, January 18, 2011

Tenants struggle to meet rents

The Association of Letting Agents report a rise in the number of tenants not meeting rental payments.

This rise is the first recorded increase for the past 18 months and maybe points at things to come as the effects of the austerity measures bring about job losses and pay cuts.

Ian Potter, Operations Manager at ARLA, said: "At the beginning of last year we predicted that the number of tenants having difficulties paying rent would increase and unfortunately, this seems to be the case today.

"It is a situation which can have serious repercussions throughout the PRS as, without guaranteed rent income, landlords may also have problems paying mortgages. At worst, it may result in a rise in repossessions."

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