Dramatic rise in private sector rent arrears
Figures from Your Move and Reeds Rains show that 74,000 private sector tenants now owe more than two months’ rent. This represents an increase of 4.4% compared to three months ago and is 7.2% higher than a year ago. These figures however appear mild when compared to the third quarter of 2012, when some 116,600 households owed more than two months in late rent. As a proportion of all current tenancies, the number of tenants falling seriously behind on rents is relatively low and represents just 1.4% of all tenants.
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