The research shows that a typical landlord faces £1,649 of outstanding rent each, totalling £850 million worth of rent arrears across the UK.
The NLA research also shows that 22% landlords in the UK, approximately 300,000, are worried that their tenants won’t be able to keep up rental payments over the next year.
The research supports the launch of the NLA’s latest campaign: rent, risk resolve. The campaign aims to highlight four of the biggest risks facing landlords and help them to minimise the impact on their lettings business:
Rent arrears
Rising interest rates
Local landlord licensing and regulation
The introduction of rent controls
NLA chairman Carolyn Uphill said: “All landlords will be affected by one or more of these issues to some extent somewhere down the line and it’s vital to keep in mind the major threats to the success of your business. Regardless of the size of your portfolio the potential impact of these risks can be devastating on both the business and personal life. As the largest landlord association in the UK, we have a duty to support and advise on how to plan ahead effectively and manage these risks.”
