Number of UK tenants in arrears risesMake Text Bigger
The number of residential tenants significantly behind on their rent in the first quarter of the year was up 4% compared to this time last year, according to latest figures.
There were 70,900 UK tenants with two months of unpaid rent in the first three months of 2015, some 1,500 more households than during the tail end of 2014.
2,700 additional households also fell into the most serious category of late rent, owing more than two months rent, according to the latest tenant arrears tracker by Your Move and Reeds Rains.
However, these figures are still healthy compared to the worst peak of serious rent arrears in the third quarter of 2012, when 116,600 households faced more than two months in late rent.
“Although the current figures are far from panic evoking, we recommend that landlords protect themselves against late or non-paying tenants with Rent & Legal Protection Insurance, just in case,” said a spokesperson for Landlord Insurance specialists Discount Insurance.
“The good news for landlords is that these figures show that more than 98% of tenants never get into serious arrears and that buy-to-let still provides a fluid regular income,” added the spokesperson.
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