Four in ten agents see rise in tenants struggling with rent
Posted by Gary Winter
According to a report from the Association of Residential Letting Agents (ARLA), 41.2 per cent of the organisation's members have seen a rise in the number of tenants struggling to pay their monthly rent.
As rental prices have increased and the population struggles to make ends meet, it appears that many are falling behind on their payments as a result of the current economic situation.
"With unemployment predicted to rise and average rents also increasing in some parts of the country, it seems more and more tenants are finding it impossible to make ends meet," said Ian Potter, operations manager at ARLA.
Ensuring tenants are able to meet their monthly payments is of vital importance to landlords, and many rely on the regular income to finance their own repayments to lenders.
With everything from buy-to-let mortgages to cheap landlord insurance policies to take into account when investing in property, it appears that considering tenants' ability to meet rental prices could play a significant role in the sustained profitability of a landlord's assets.
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