Editor's note: This brief was summarised by The Property AI Team from a report by Landlord Today. Read the original article for full details.
Landlord Rental Income Up, But Arrears Also Rise
Average landlord rental income has increased by 23% over the past 12 months, according to claims reported by Landlord Today. Despite this rise, an estimated 846,000 landlords have experienced rent arrears during the same period.
Newly-published landlord trends data for the first quarter of the year shows the average value of a UK landlord portfolio stands at £1.7 million, with the average portfolio size at 7.3 properties.
These figures highlight ongoing challenges for letting agents and inventory clerks, as rising rental income is accompanied by significant arrears issues in the UK property sector.
Source: Landlord Today