Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Landlord Rent Arrears Reach Record Low, Says New Research
Landlord rent arrears have fallen to their lowest level since records began, according to Pegasus Insight’s latest Landlord Trends research. The report, covered by Property118, found that 26% of landlords experienced arrears in the past year, down from 42% in 2020.
The research highlights that while fewer landlords are facing rent arrears overall, the issue remains a concern for those with larger property portfolios. The findings suggest a positive trend for the UK rental sector, but also indicate that arrears continue to impact some landlords more than others.
Letting agents and inventory clerks may find these figures relevant when assessing risk and managing tenancies. The reduction in arrears could influence approaches to tenant referencing and property management in the current market.
Source: Property118