Rental Arrears: Property Rental Toughens
Published / Last Updated on 16/09/2008
Rental Arrears: Property Rental Toughens
Research from AXA has revealed, the private rental market could be heading for a bumpy ride as 13 per cent of renters have gone into arrears in the past 12 months. The research showed that of those who had fallen in arrears, 7 per cent had done so in the past three months. More than 50 per cent of private renters are becoming more concerned about being able to afford their rent. They also said that 95 per cent of those in privately rented accommodation had no kind of income protection to help if they lost their job.
The research also showed that more than a third of people privately renting are doing so because they cannot get a mortgage at the moment. This is not all good for the buy to let investor. Property prices falling and rents not being paid.
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