A third (32%) of landlords in the UK – approximately 500,000 – say they
have experienced rent arrears in the past 12 months, according to
research from the National Landlords Association (NLA).
The research shows that a typical landlord faces £1,649 of outstanding
rent each, totalling £850m worth of rent arrears across the UK.
The NLA research also shows 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.
The research supports the launch of the NLA’s latest campaign: rent, risk resolve.
The campaign aims to highlight four of the biggest risks facing
landlords and help them to minimise the impact on their lettings
business:
- Rent arrears
- Rising interest rates
- Local landlord licensing and regulation
- The introduction of rent controls
NLA chairman Carolyn Uphill said: “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.
“Regardless of the size of your 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.”
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.
A landlord’s guide to rent arrears enables landlords to spot potential
arrears early and provides strategies to put in place to mitigate the
impact. To find out more about the campaign, or to download the free
guide, visit www.landlords.org.uk/rentriskresolve.
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