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According to research carried out by the National Landlords Association (NLA), around one third of landlords have had a problem with rent arrears in the last year. Landlords are facing £850 million of debt across the UK, which equates to £1,649 per landlord.
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The research also indicates that a fifth of landlords are concerned about their tenants’ ability to pay the rent over the next twelve months.
National Landlords Association Campaign
The National Landlords Association has recently launched a new campaign to help highlight the problems facing landlords operating in the UK. The four biggest risks for UK landlords are:
• Rent arrears
• Licensing and regulation
• Rising interest rates on mortgages
• Rent controls
“All landlords will be affected by one or more of these issues to some extent somewhere down the line and it is vital to keep in mind the major threats to the success of your business,” says Carolyn Uphill, Chairman of the National Landlords Association.
“Regardless of the size of your portfolio the potential impact of these risks can be devastating on both the business and personal life. As the largest landlord association in the UK, we have a duty to support and advice on how to plan ahead effectively and manage these risks”.
Guide for Landlords
The National Landlords Association has produced a guide to help landlords spot the signs of rent arrears and minimise the effect on their business if the worst does happen. The guide is available for members of the NLA.
