Tuesday, August 4, 2009

For those private landlords in for the long term – it’s looking good for the next 3 months !

Landlords suffer rental arrears but feel worst is over

Nearly a third of private landlords have experienced rental arrears over the last year, however most believe the worst is over and are optimistic about the future. According to new research from Business Development Research Consultants (BDRC), the number of landlords with rental arrears increased from 18 per cent in Q1 2008 to 30 per cent 15 months later. However, the research suggests that whilst there are undoubted challenges in the current economy, some private landlords feel that the worst is over.

Posted by jack c @ 09:34 PM (1016 views)
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4 thoughts on “For those private landlords in for the long term – it’s looking good for the next 3 months !

  • This from todays mortgagestrategy – http://www.mortgagestrategy.co.uk/cgi-bin/item.cgi?id=191295&d=403&h=401&f=402

    Rise in landlord rental arrears
    Natalie Holt
    04-Aug-2009

    Some 30% of landlords have experienced rental arrears in the last year, according to research from Business Development Research Consultants. The latest quarterly survey from BDRC found that out of the 500 private landlords polled in June 30% of landlords had suffered rent arrears in the last year, compared with 21% in June last year. Out of those with rental arrears 38% of landlords used their tenants’ deposit to cover the cost of missed rent, while 32% have chosen to evict their tenants instead.

    Yet despite the climb in rental arrears some landlords remain optimistic that the worst of the recession is behind them. Some 19% of landlords surveyed thought the prospect for rental yield in the next three months was very good, and 17% believed that overall letting prospects were very good.

    Mark Long, director at BDRC, says “It is clearly a tough time for private landlords, with many more experiencing arrears and the longest void periods than at any time since we started tracking this market in 2006. “But there is a feeling amongst some that prospects are good for the next three months as demand for rental property is fuelled by the restrictions on residential mortgage lending, making it hard for many would-be buyers.”

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  • Right, so … landlords aren’t worried about current soaring unemployment figures? Great.

    How about their tenants? Did “mortgagestrategy.co.uk” ask them?

    Wonder why not.

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  • Never heard of BDRC so checked out their credibility:-

    Business Development Research Consultants

    BACKGROUND

    • Founded 1991

    • Member of ESOMAR

    COMPANY RESOURCES

    With over 60 full time staff, the BDRC Group is a full service agency with its own large 200 station CATI resource operated through Perspective, a wholly owned subsidiary. BDRC are especially noted for research in finance, tourism, travel and leisure, hotels and telecoms.

    The company recognises the need to integrate research with the realities of the clients’ world, and research findings are always reported with a view to the business needs of the client.

    BDRC is the UK licensee for ZMET (Zaltman Metaphor Elicitation Technique), the groundbreaking methodology that uniquely reveals the deep universal metaphors that unconsciously shapes consumer choice and behaviour.

    They have therefore been paid to spout rubbish in order to influence the business needs of the bill payer!

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  • So just 17-19% of landlords are bullish about the outlook.

    – How many are in utter despair??

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