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Monday, June 13, 2011

Rental arrears hit a high

The latest findings from direct landlord research conducted by BDRC Continental suggest that despite the recovery of landlords’ confidence, the rental market remains challenging. Figures suggest an inexorable climb of rental arrears with 34% of landlords being affected in the last 12 months, the highest proportion ever recorded in the survey.

Could this be anything to do with the increasingly precarious financial position of tenants?  Whilst shortage of property to rent has meant that rental demand for property is strong.  Tenants finances have been hit by unemployment, stagnant wages and rising inflation.

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."

On the upside the research also shows that two thirds of landlords don’t intend to change the price of the rent charged to tenants in the next 3 months.”

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