Twitter Facebook RSS FEEDS

A third of landlords have tenants in arrears

Monday, 30 March 2009 11:44 AM

Landlords are currently seeing 37 per cent of their tenants in arrears according to research published today by the National Landlords Association (NLA).

Over the last six months, 44 per cent of landlords have experienced rental arrears, contributing to the significant rise in repossessions and the growing number of landlords having problems meeting their mortgage repayments.

The NLA said when faced with arrears, 50 per cent of landlords attempted to recover the loss of earnings through the courts. The research found many landlords were waiting for over three months before their case was heard, and one respondent said: "The court process for evictions takes far too long which could potentially lead to hardship for many landlords, especially smaller ones."

David Salusbury, chairman of the NLA, said: "This is becoming a serious problem for landlords all over the UK. Paying the rent has to be right at the top of tenants' priorities as even one month's arrears, in this climate, could be the straw which breaks the camel's back. The mortgage has to be paid and the vast majority of landlords do everything in their power to make sure this happens.

"It is important to remember that only about 35 per cent of rental properties are secured on existing buy-to-let mortgage finance.

"Contrary to recent reports, most landlords are not expecting to be repossessed and lose their asset. Landlords and tenants need to communicate and work together to tackle financial problems before they result in a loss of rent and a potential default on mortgage repayments."

Related stories

Block of flats in London

Millions of tenants have problem landlords

More than 7.5 million people have had issues with their landlords in the last ten years, according to a new study.

 51 per cent of agents reported an increase in haggling. Image:Thinkstock

Rise in arrears and haggling as tenants squeezed

Four out of ten letting agents report rise in tenants falling behind with rent in ARLA survey.

39 per cent of professional landlords said their rental income increased this year. Image: Thinkstock

A third of landlords increase rents

Landlords raise rents in third quarter on back of rising tenant demand.

 Aerial shot of Bath Crescent

Landlords happy but not respected by public

A recent survey has revealed landlords are financially well-off but feel that their profession is not held in high regard by others.
Forty five per cent of landlords believe their rent will increase in 2012. Image:Thinkstock

Landlords forecast rising tenant demand for 2012

Survey by Paragon shows increase in landlords saying demand will either rise or boom this year.

Generation Rent clash with landlords over pets

Generation Rent clash with landlords over pets

Tenants find pets stop them renting homes, lose them their deposit and even get them evicted.
property to let

Rent arrears account for 80% of tenant evictions

Enlisting the help of a lettings agent, instead of going it alone, could save landlords a lot of trouble - and money - in the long run.

 Pile of money

Tenants struggle to get onto 'rental ladder'

According to a leading estate agent, many landlords are now insisting that tenants earn 30 times their monthly rent.
Two thirds of landlords interested in Green Deal loans for energy efficiency improvements, says National Landlords Association. Image: Thinkstock

Landlords keen to take up Green Deal

Interest high in scheme that offers loans for energy efficiency improvements to homes.

 Burnley has the highest proportion of repossession claims. Image:Thinkstock

Repossessions stable as arrears fall slightly

North West is the worst region in England and Wales for repossession action in the courts, according to new figures.

Search property

Headlines

Directory

Alaris

Alaris Logo
Alaris specialise in quality Bathrooms and Kitchens along with many other unique products for your home. The range of kitchens, kitchen worktops and bathrooms is extensive and the highest quality so you are sure to find what you want. New bathroom furniture, bathroom suites, taps, showers and cabinets are added regularly.

Bathrooms365

Bathrooms365 Logo
Bathroom365 supply all areas of your new bathroom - leading-edge designed bathroom suites, stylish bathroom taps and showers, all styles and forms of shower enclosures and a vast collection of bathroom furniture.

Fitmykitchen

Fitmykitchen Logo
Fitmykitchen are specialist suppliers of kitchen appliances, sink taps, waste bins and furniture. So whatever you want from kitchen sink taps to waste bins look no further than fitmykitchen, UK, the specialist suppliers of kitchen appliances, stainless steel sink taps, waste bins and kitchen furniture.

MyStampDuty

MyStampDuty Logo
We help people buying property all over the UK to minimise Stamp Duty Land Tax on residential and commercial property. If you are looking at purchasing a new home or business premises over £500,000, contact us today by completing the form on the right

Oak Furniture Land

Oak Furniture Land Logo
For hardwood furniture, including Solid Oak, Mango, Mahogany, Sheesham, Acacia, Ash and Birch, look no further than Oak Furniture Land.

Rated People

Rated People Logo
Whatever type of home improvement or garden remodelling project you have, Rated People can help you to identify the right tradesmen for the job in a way that is quick, easy, convenient and, as it is based on real-life recommendations, trustworthy.

Residential Land

Residential Land Logo
If you are looking for short or long term rentals in Central London, Residential Land have a portfolio of over 1200 flats and houses in the best postcodes across the Capital.

Simply Bedrooms

Simply Bedrooms Logo
Simply Bedrooms, a part of Sleepwell Bedrooms Ltd, supplying quality beds, wardrobes, sliding door wardrobes and bedroom furniture at low prices and great service, London and Home Counties Specialists.

Door Handles UK

Door Handles UK Logo
Door Handles UK is the UK's largest online range of Door Handle accessories, Door Hinges, Locks and Latches and so much more and all at genuine internet prices. We have a wide range of Chrome, Brass and Glass Crystal Mortice door knobs in both traditional and contemporary designs, whatever your taste and budget you will find a design to suit.

Woodlands Furniture

Woodlands Furniture Logo
We are an established family business situated in rural Herefordshire specialising in beautiful handcrafted classic reproduction furniture. Our comprehensive ranges are readily available from stock.

WowBBQ

WowBBQ Logo
Welcome to the World of Weber. We are the largest independent online Weber BBQ retailer in the United Kingdom. WOWbbq.co.uk is a Weber Partner Store and can give you the best advice for all your Weber BBQ needs.

Join our directory aboutproperty.co.uk

Twitter

Join the conversation at #aboutproperty

Directory articles

A guide to finding the right kitchen sink

When redesigning a kitchen or giving the room a makeover, it is important not to forget about the less obvious aspects of the space. Kitchen sinks are an essential fitting, but often overlooked, despite the fact there is a wide choice of styles available.

Useful tips to help find a flat in London

Looking for flats in London can be a frustrating process, given the capital's size, demand for rental accommodation and varying prices. It is vital, therefore, that you do plenty of research and act quickly to ensure you get the place that you want.

What do you need to consider when buying a mattress?

If you looking for a new mattress, you need to get the decision right, as getting it wrong could impact on your overall health and wellbeing. As well as comfort and size, you also need to consider other points, such as any health issues you may have.