Rent Arrears Indices
The number of tenants seriously behind on rent has risen to the highest level in two years, according to the latest Tenant Arrears Tracker by estate agency chains Your Move and Reeds Rains, part of LSL Property Services PLC.
There are now 74,000 tenants owing more than two months’ rent, since 2015. This means 5,000 more households are in significant arrears than a year ago, or an annual increase of 7.2% since 2014, when this figure previously stood at 69,000 across the UK. However in the same period the eviction rates have improved and are lower by 5.9%.
On a positive note, the number of buy-to-let mortgages over three months in arrears has fallen by 35% since the previous quarter of 2008, and by 58% since 2014. With just 5,700 cases of landlords now more than three months in arrears, this represents the lowest level of landlord mortgage arrears on record.