16 Jun

Tenant arrears continue to improve

Tenant arrears continue to improve

Landlords are reporting a fall in the number of tenants who have rent arrears, according to the latest reports.

Data from Your Move and Reeds Rains shows that 86,200 tenants are more than two months behind in rent payments - compared to 89,300 in the previous three months.

This four per cent decrease in arrears could be due to improvements in the job market and is welcome news for UK landlords.

"Fewer tenants in serious arrears reflect the health of the jobs market. With an extra 44,000 jobs created in the first quarter of this year, thousands of tenants have been able to get their finances back on track and pay down late rent," said Adrian Gill, director of estate agents Your Move and Reeds Rains.

Serious rent arrears peaked in the third quarter of 2012, with 124,800 tenants owing more than two months in missed rent payments, a time when unemployment was particularly high.ADNFCR-1222-ID-801820302-ADNFCR

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