Tenants resort to haggling to make rent payments

25 April 2012 Categories: News

Tenants resort to haggling to make rent payments

It seems that a growing number of private rental tenants are struggling to pay their rent on time, and some are even resorting to haggling with their landlord for a lower rental amount. According to new figures released by ARLA, over 40% of their members (who responded to the latest trends survey) have experienced late or missed rental payments at some point during the last six months.

It also seems that a growing number of tenants are trying to haggle with their landlord for a decrease in their rent, even if the decrease is only short term. Haggling is presently most prevalent in the North East and the South West where unemployment is a major problem.

Operations manager at ARLA, Ian Potter, commented on the findings, saying; “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. It is likely that the same is happening for landlords, who may find their mortgage rate is rising.”
Conflicting figures were also released this week though by LSL, the parent company to Your Move and Reeds Rains. According to their findings tenant arrears are currently falling, with the figures for March standing at £267million – a 6% decrease on February’s numbers.