Rental arrears rise

21/10/2009

Many Landlords are facing difficulty through the recession, despite falling interest rates and increasing rent prices.

That's according new research by the National Landlords Association who say more than four in ten people asked said they’d suffered rental arrears during the past twelve months.

More than seven in ten landlords said they'd experienced a problem with arrears some time in the past.

Chairman of the NLA, David Salusbury said "Landlords may not realise that they can protect themselves against rental arrears, but our research shows there is a need to safe guard your rental homes, unfortunately we aren't out of the woods yet with the economy, thanks to redundancy and unemployment some tenants are still struggling to pay their rent".

Kevin Still, Director of debt management company EuroDebt says "rent and mortgages should be a priority for people in financial difficulty.

Tenants may feel pressure to pay credit cards or store cards off ahead of their landlords.

EuroDebt assists clients to prioritise their expenditure and helps Residential Letting Agents and landlords, establish affordable repayment plans for rent arrears".

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