Data from the Association of Residential Letting Agents (ARLA) suggests that the number of tenants struggling to pay rent has fallen to 27% from 65% just five years ago. “Any overall fall in rental arrears is good news but 27 per cent is still high considering the economic climate in the UK remains challenging” says Ian Potter, outgoing managing director of ARLA.
“Competition for the best properties remains fierce but this shouldn’t tempt tenants to offer beyond their means. As well as rent itself, the deposit, utility bills and contents insurance should always be factored in to any budget to avoid any shortfall” advises Potter.
William Taylor of Martin & Co Huddersfield (Letting Agent Huddersfield, Estate Agent Huddersfield & Property Management Huddersfield) gave the following in response “we at Martin & Co have a very organised approach to rent arrears with the aim of helping both the landlord and the tenant before the situation escalates. Sometimes this involves an agreement between the parties to end the agreement. Of course rent arrears happen, but it is the way we manage the process and the people it involves that see’s good results.”