Almost a million tenants have built up rent arrears since March 2020, according to research by National Residential Landlords Association (NRLA). The alarming statistic is part of an investigation NRLA has been conducting into the state of the rental market in the wake of the COVID-19 pandemic, and it makes for disturbing reading.
Some 7% of those surveyed had built up rental arrears, and while median rental arrears were between £251 and £500, 18% (or the equivalent of 150,000 tenants) of those with arrears had built up rental debts of over £1,000. With the Government’s furlough scheme coming to an end in late September, numbers of defaulting tenants are likely to increase, meaning letting agents will need to develop new strategies on how to handle those who fall into arrears.
As part of its pandemic response, the Government put protective measures in place to make it harder for
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