The latest survey of arrears in England and Wales suggests the level now stands at 9.1 per cent of all rent due in the private sector, compared to 8.8 per cent a month earlier and just 7.4 per cent a year ago.
The data – produced by letting agencies Your Move and Reeds Rains – suggests that the position is still significantly better than the long-term highest arrears level of 14.6 per cent of all rent payable back in February 2010.
“For private renting to remain an affordable option and a high-quality home for millions, the answer is more supply and more choice. That means lifting the barriers to investment in property, rather than adding fresh penalties for landlords aspiring for their own financial security” cautions Adrian Gill, outgoing director of the agencies.
“Good landlords also understand that their interests and the interests of their tenants are aligned – a tenancy should be a mutually beneficial deal. That takes expertise in managing a property and it takes commitment. Managing properties well must include regular communication with tenants, to address concerns, arrange maintenance, and to avoid the possibility of rent arrears” he says.
