LETTING & ESTATE AGENT

Tenants in arrears drops

Tenants in arrears drops

Tenants who are more than 2 months in arrears has dropped to its lowest point in two years. Tenants in severe arrears has dropped by 25% in Q3 this year. This represents a drop of 23,000 tenants in severe arrears. The figure now stands at 69,000 tenants who have more than 2 months of rent arrears. 

 

As a whole, tenants who are in severe rent arrears represent 1.7% of all tenancies in England and Wales, this is a 0.7% drop from Q2 this year. 

 

Although at Martin and Co Southampton City we do an in-depth analysis of prospective tenants finances before they are eligible for a tenancy with us, it cannot foresee job losses at a later date or other financial issues  which may result in tenants falling into arrears. However, we offer all our landlords a rent guarantee service to protect your income should your tenant default on their rent. For more information on our rent guarantee service .

 

If you would like more information on the rental property market in Southampton, then give Martin and Co Southampton City a call on 02380 988881. We'll be happy to have a no obligation chat about your needs and expectations as a landlord or tenant.