Warning over increased rent arrears in UK property market
Rising residential property rents in the UK could increase the amount of arrears that private landlords will experience in 2012, it is claimed.
Soaring rents in 2011 have pushed up the number of tenants in severe arrears by 18% annually to the highest level since the third quarter of 2008 and the numbers of court orders to evict tenants are up 11% in the last year as landlords take a tougher stance.
Indeed, the number of tenants in severe financial difficulty has climbed in the last quarter of 2011, with nearly 11,400 more tenants over two months in arrears than a year ago, according to the latest Tenant Arrears Tracker by Templeton LPA, the specialist practice of LPA Receivers.
Read the full story at www.propertywire.com
RentPro can assist with arrears management by clearly showing you on the main dashboard when tenants are falling into arrears.