Landlords across the UK are still owed 55% of annual net rent ahead of the government’s arrears arbitration process coming into effect later this month.
Data from property management platform Re-Leased shows landlords’ total portfolio arrears have risen by nearly a fifth since the onset of the Covid-19 pandemic and that it has taken a full two years for rent collection to return to pre-pandemic levels.
Re-Leased chief financial officer Sam Caulton said: “These figures illustrate the growing weight of the burden placed upon landlords over the past two years. As we look beyond Covid, the planned arbitration scheme and end of the eviction moratorium later this month, allowing landlords to work collaboratively with tenants to rebalance their books, will no doubt be welcomed across the sector.”
