Rent arrears rising – What has government got to be worried about?

by Property118.com News Team

9:37 AM, 19th July 2018
About 5 months ago

Rent arrears rising – What has government got to be worried about?

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Rent arrears rising – What has government got to be worried about?

Data from Your Move have the number of tenants in arrears increasing for 4 consecutive months between January and April and the proportion of tenants in arrears has risen from 8.4% to 9.4%

Belvoir recently reported a fifth of its offices had 40% of tenants in arrears during the first 3 months of the year. Rental arrears are estimated at £900 Million per annum.

Meanwhile, back at the Ministry of Housing, Communities and Local Government (MHCLG) ranch, legislation gallops ahead with Section 24, reducing the number of landlords, increased numbers of homeless and reduced supply of accommodation from October with minimum HMO room sizes.

What has MHCLG got to worry about? To look at the latest death knell, musings about longer tenancies (barely after the ‘must allow pets’ farce has subsided) its hard to fathom why the Government are not afraid, very afraid.

Arguably, the biggest concern for tenants comes not from political parties or even tenant associations (as they are oblivious to the storm ahead), but from Landlords as they can see the harm being inflicted on their customers.

Considering the Section 21 arguments on minimum tenancy terms as an analogy all shops want customers to come in and spend as little or as much as they choose, without minimum/prescribed levels, but no retailer wants or tolerates shoplifters and there is criminal law to support this. Its called ‘Theft’

However, it is considered almost impossible to steal from Landlords!

Whoever said there was bias and unfairness in the justice system?

Contributed by: Possession Friend



Comments

david porter

10:30 AM, 19th July 2018
About 5 months ago

rental arrears,
retail units shutting up shop?
Connection ?
No money in the economy!

NW Landlord

10:42 AM, 19th July 2018
About 5 months ago

Crazy what's going on amd the first s24 tax bills haven't hit yet completing another sale my 2nd this month two families looking for rental accommodation

Jim Swallow

10:56 AM, 20th July 2018
About 5 months ago

Same here s24 on its way, tenant moved out so i put it up for sale one less property to the rental market and so on!


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