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Private Sector Rent Arrears 'the Lowest' Since 2008

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The number of people who are behind with their rent has fallen to its lowest level for five years, according to LSL Property Services.

LSL, which owns several chains of letting and estate agents, said the total amount of late rent fell by £49m between September and October.

The figures are for private sector tenants in England and Wales.

Significantly, they come at a time when rents across the country have risen to an all-time high, according to LSL.

In October, the proportion of rent that was late fell to 7.1%, down from 8.5% in September.

Great news for the BTL brigade...

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Hehe. I came across a 12 property portfolio yesterday, spread across the north and the south coast. All but one property is underwater on secured loans. The rents are coming in, but the estate is insolvent.

One clear trend at the moment: there is a flood of defaults on social rents. Expect a bail out of housing associations.


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