Taylor Scott International News
Almost a third of landlords in the UK, approximately 500,000, say they have experienced rent arrears in the last 12 months, according to new research. The research from the National Landlords Association (NLA), shows that a typical landlord faces £1,649 of outstanding rent each, totalling £850 million worth of rent arrears across the UK. The findings also show that 22%, approximately 300,000, are worried that their tenants won’t be able to keep up rental payments over the next year. The research supports the launch of the NLA’s latest campaign called Rent, Risk Resolve which aims to highlight four of the biggest risks facing landlords and help them to minimise the impact on their lettings business. The biggest risks are named as rent arrears, rising interest rates, local landlord licensing and regulation and 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 for them to keep in mind the major threats to the success of their business,’ said Carolyn Uphill, NLA chairman. Regardless of the size of a portfolio the potential impact of these risks can be devastating on both the business and personal life. As the largest landlord association in the UK, we have a duty to support and advise on how to plan ahead effectively and manage these risks,’ she explained. The first focus of the NLA’s campaign will be the risk of rent arrears. The NLA has produced a guide to support landlords to deal with the problem. Continue reading →
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