Tenant and landlord arrears show major falls

There are 67,000 tenants facing rental arrears of more than two months - that’s 35,000 fewer than there were this time last year.

A survey from LSL Property Services shows that as a proportion of all tenants, those in serious arrears of more than two months has also improved, standing at 1.5 per cent in the second quarter of 2014, compared to 2.2 per cent in Q2 2013. 

This means an overwhelming 98.5 per cent of private tenants are not in significant rental arrears.

Even so, some 33,000 tenants are facing potential eviction via court order, up 5.9 per cent from late 2013.

Meanwhile landlords’ own mortgage arrears have fallen for the sixth successive quarter, with just 14,700 buy-to-let mortgages in arrears in more than three months in the first quarter of this year.

That is down 10.9 per cent from the previous quarter and a significant 17.9 per cent better than in the first quarter of 2013.