Property to rent in London experiencing tenancy payment boost?
Those letting flats to rent in London may be interested to hear that new statistics have shown the recession has not had much of an adverse effect on tenancy payments.
Figures from LSL Property Services showed while 16 per cent of landlords did report a rise in the number of people in rent arrears over the past 12 months, 84 per cent said there had either been a fall or no change, the Press Association reports.
Furthermore, those who did identify an increase in late payments said it was only a slight difference from the previous year.
According to the lettings group, rent arrears for the month of July totalled £213 million, which it noted as the lowest level since it started collecting figures around 2.5 years ago.
The data followed the latest figures from Land Registry, which showed house prices are currently on the rise, with a year-on-year increase of 6.7 per cent.
Posted by Ben Carter
Published 2nd September, 2010
© 2010 Estates IT Limited
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