Rental arrears fall

Landlords reporting tenants in severe arrears  from non payment of rent has fallen over 35% over the last year according to LSL's buy-to-let index.  Their data from  LPA Receivers show that at 68,000 the number of tenants in serious arrears is now over 40% below the peak of 116,000 reached in mid 2012.

The trend is improving with the latest figures indicating that severe arrears only account for 1.4% of all tenancies.  This is down from 2.3% of all tenancies one year ago although it still remains flat on Q4 the previous quarter.

Property Hawk - insights

It could well be that the overall improving economic environment is feeding through to tenants and that less of them are falling into arrears.  Time will tell but with more people in work and the financial squeeze finally reaping economic results maybe landlords will be able to benefit from the economic up turn too.

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