Landlords have to protect themselves from rent arrears
Brokers have a crucial role to play in educating clients on the options they have to prevent or deal with arrears
Buy-to-let landlords and lenders will take heart that tenant arrears have declined since the turn of the year. In March, 8.7% of all rent was late or unpaid according to the LSL Property Services Buy-to-Let Index, down from 9.3% in February.
Inflation has been broadly trending downwards in the past six months, albeit with a hiccup in March.
Rents dipped in Q1 and these two factors have provided a financial respite to many tenants….
But it’s not been an easy few months for all tenants. Despite the overall drop in arrears, a small but growing segment of the tenant population faces severe problems.
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