Tenant arrears are getting worse according to eviction notice issuers

05 April 2012 Categories: News

Tenant arrears are getting worse according to eviction notice issuers

The number of tenants within the private rental sector that are behind with rental payments by two months or more has rose by over 10% during the first three months of this year, according to Templeton LPA, a subsidiary of the LSA Property Services Group. It is estimated that over 94,000 tenants now owe more than two month’s rent – a 20% increase on the number quoted at the end of March 2011, and that by the end of the next quarter (June) this figure will have broken the 100,000 barrier.

The number of tenants with rent arrears has been steadily climbing for over 12 months, the main causes of which include the rising cost of living, rising rents and the problems people are currently facing with regards to long term employment.

Paul Jardine, Director and receiver for Templeton LPA commented; “While the general tenant population has absorbed the rising cost of renting in the last two years, a minority of tenants are facing severe financial difficulties – a minority that is growing.”

Figures from Templeton LPA also show that the number of eviction notices faced by struggling tenants has increased by 9% when compared to the figures from Q4 of 2011.