Our landlords enjoy some of the lowest arrears on the market
- 31st July 2015
- Landlord Property News
Recent research into arrears across the UK shows a sharp rise - comes as a surprise to our customers
Recent research has shown a sharp rise in rental arrears in the UK over the last month. According to the figures, rental arrears made up 8.7% of all rent payable in June up from 7.6% in May and 7.8% last year.
This will surely come as a surprise to clients of ludlowthompson who see arrears sit consistently around 1.5% of volume of properties and 0.5% of rent collected, some of the lowest figures in the market.
Such low levels of rental arrears are achieved by matching quality landlords with trustworthy tenants.
For the first time since July 2013 rents are growing faster than house prices on an annual basis, however this likely to be as a result of tenants moving to new properties or committing once again to long term leases following the election result - which provided more certainty for the property market - rather than a longer term trend.
Stephen Ludlow, Chairman at ludlowthompson, explains: “Our low rental arrears suggest that both our landlords and tenants are pleased with the high quality properties we offer as well as the market leading level of service we provide to our customers.”
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