November 2, 2011
Buy To Let Rent Arrears Increase
There’s no point denying it - rent arrears for buy to let landlords are on the increase. It’s hardly a surprise and it looks like things are going to get worse.
National Debtline, the charity that helps people with money worries, reports that rent arrears enquiries from buy to let landlords have gone through the roof and increased by 84 percent in the past four years.
The cost of living continues to rise steadily, inflation is at a record high and global commodity prices continue to rise. These factors, coupled with growing food prices and bigger utility bills, mean more people are feeling the pinch.
MD of Landlord Assist, Graham Kinnear, said: “The economic situation is really impacting now. We are referencing tenants who are wanting to trade to smaller properties as they are no longer able to afford their rent.
