PRS Rent Arrears on the increase
The latest survey of arrears in England and Wales suggests the level now stands at 9.1 per cent of all rent due in the private sector, compared to 8.8 per cent a month earlier and just 7.4 per cent a year ago.
The data – produced by letting agencies Your Move and Reeds Rains – suggests that the position is still significantly better than the long-term highest arrears level of 14.6 per cent of all rent payable back in February 2010.
“For private renting to remain an affordable option and a high-quality home for millions, the answer is more supply and more choice. That means lifting the barriers to investment in property, rather than adding fresh penalties for landlords aspiring for their own financial security” cautions Adrian Gill, outgoing director of the agencies.
“Good landlords also understand that their interests and the interests of their tenants are aligned – a tenancy should be a mutually beneficial deal. That takes expertise in managing a property and it takes commitment. Managing properties well must include regular communication with tenants, to address concerns, arrange maintenance, and to avoid the possibility of rent arrears” he says.
Central Housing Group’s ‘Guaranteed Rent’ Scheme protects landlords from the substantial risk of rent arrears. Our landlords are paid an agreed monthly Guaranteed Rent for the duration of the term of their contract regardless of their tenants’ financial or employment circumstances and regardless of whether their property is occupied or not. Consequently our landlords have complete peace of mind knowing they will not be impacted at all by the risk of incurring rent arrears or rent loss during void periods, in contrast to those landlords that let their properties in the private rented sector, with all the attendant risks and exposure of doing so.
Landlords – please carefully consider the risks you run by choosing to let your property privately when, instead, you can let your property on our ‘Guaranteed Rent’ Scheme and protect yourself from any rental loss exposure.
As a contracted supplier to many of our Council clients, our accounts are audited annually and are subject to regular scrutiny by our Council clients – landlords can therefore have complete confidence in our ability to ensure they will receive their agreed rent on a Guaranteed basis for the duration of the term of their contract with us.
If you are interested in finding our more about our ‘Guaranteed Rent’ Scheme, currently operating in north, east & west London, please call us today on 020 8447 1222.