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Arrears decline in residential buy-to-let sector

Residential landlords in the UK are having to deal with fewer tenants who have fallen into arrears, according to new statistics released by LSL Property Services. While rents continued to increase in October by an average of 0.4 percent, the amount of outstanding rent owed to residential landlords fell from £229.3 million in September to £221 million by the end of the last month. Approximately 9.3 percent of rent went unpaid in October, signalling a noticeable improvement in a problem that caused headaches for landlords through much of the year. The current percent of rental arrears nearly matches the lowest rate ever measured by LSL Property Services.

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