Around 75,000 buy to let tenants are in rent arrears – a 13% increase on the same period last year, according to rent receivers appointed by mortgage lenders.
The number of tenants failing to pay rent went up from 71,483 in the first three months of 2011 to 74,492 in the second quarter – a 4% rise.
Tenants who do not pay their way are also finding landlords are taking a tougher approach to arrears as court orders for evictions has gone up 9% year-on-year.
Landlords are managing to handle the income deficit as mortgage lenders report loan arrears have dropped by 12% in the year. Continue reading More tenants in arrears as rents keep rising