Tenants reverse trend to serious rent arrears
- Despite difficult winter period, 1,500 households escape serious rent build-ups in Q4, compared to Q3
- Those owing more than two months’ late rent now number 82,900 across UK, down 1.5% on last quarter
- Eviction orders drop to 26,700 in Q4 – representing just one-in-three households in serious arrears
- Landlord’s finances also improve marginally, as buy-to-let mortgage arrears dip to 5,500 cases in Q4
Those renting their homes from private landlords are now less likely to suffer from a serious build-up of late rent, according to the latest Tenant Arrears Tracker by estate agency chain Reeds Rains.
By the final quarter of 2015, a net 1,500 households have moved out of serious rent arrears, compared to Q3. This is a 1.5% quarter-on-quarter improvement, and reverses some of a deteriorating trend throughout the earlier parts of 2015. There are now 82,900 households behind on more than two months’ rent, down from 84,200 in Q3 2015.