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Average amount of rent arrears has dropped

Average amount of rent arrears has dropped

- Friday, 23 July 2010

Landlords may have less chance of getting into debt problems through rental arrears as the average amount owed has dropped.

A landlord could get into debt problems if their tenants do not pay their rent on time or at all because this could prevent them from paying off the mortgage on the property.

However, according to the National Landlords Association (NLA), the total amount owed by tenants to their landlords has dropped from £978 in quarter one to £799 in quarter two.

David Salusbury, chairman of the NLA, said: "It is good to see the latest data which represents a small improvement in that more tenants are keeping up with their rent payments and not putting pressure on their landlords who may well have mortgage repayments to consider."

He added that tenants and landlords should stay in contact with one another and work together to tackle financial problems.

According to Paragon, 29 per cent of landlords have witnessed an increase in the demand for rented property in the private sector, suggesting that the rental market is starting to bounce back after the recession.ADNFCR-2300-ID-800004506-ADNFCR
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