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Mortgage News

Landlords desperate to keep properties occupied

Mortgage Solutions
Written By:
Posted:
February 1, 2010
Updated:
February 1, 2010

Over 6,000 tenants in England and Wales have benefitted from the downturn according to the latest research by Easyroommate.

From 2004 until 2008, tenant evictions rose by over 8%, peaking in the twelve months to Q3 2008 at 56,700.

Since then, the number of landlords trying to remove tenants from their property has decreased by over 11%. In the twelve months from Q4 2008, 50,450 tenants were evicted.

This drop in evictions comes despite the growth in tenants arrears. As recession-driven redundancies, and cuts to pay and bonuses, have taken their toll, thousands more tenants have fallen behind with the rent.

Jonathan Moore of Easyroommate, said: “In the boom years, when house prices and rents were rising, many landlords were keen to kick out tenants who were late with the rent. But in 2008, house prices stopped rising, and an empty property became a landlord’s worst nightmare. In the current housing market, landlords are doing all they can to keep tenants in their properties – even if it involves more leniency towards late rent payments.”

 

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