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Landlords Concerned About Rent Arrears

The issue of rent arrears continues to be a major problem for landlords in the UK, according to a recent study by the National Landlords Association (NLA).

The research found that as many as a third (32%) have experienced rent arrears in the last 12 months, and that the average amount of outstanding rent owed to a typical landlord stands at £1,649. This amounts to £850 million of rent arrears across the UK.

In addition, the NLA has revealed that one in five (22%) landlords in the UK – approximately 300,000 – are worried that their tenants won’t be able to keep up rental payments over the next year.

Rent arrears is one of the four biggest risks currently facing landlords in the UK, say the NLA. The other three main risks are:

  • Rising interest rates
  • Local landlord licensing and regulation
  • The introduction of rent controls

“All landlords will be affected by one or more of these issues to some extent somewhere down the line and it’s vital to keep in mind the major threats to the success of your business,” commented Carolyn Uphill, Chairman of the National Landlords Association.

“Regardless of the size of your portfolio, the potential impact of these risks can be devastating on both the business and personal life,” she added.

Contact our Solicitors in Glasgow

To find out how our solicitors based in Glasgow, Scotland, can help you resolve your tenant dispute, please click here to fill out our online enquiry form or call us today on 0141 433 2626. We look forward to hearing from you.

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