Tenants struggling to meet their rental payments

An increasing number of tenants are struggling to pay their rental payments on time, according to the latest figures from the Association of Letting Agents.

Four in ten –  41.2%, of ARLA members reported an increase in the number of tenants struggling to meet their rental payments to landlords in the six months to March 2012.

As a result, an increasing number of tenants are attempting to knock down the price of their rent when negotiating with landlords.

Haggling on rents has become most prevalent in the North East of England and the South West, whereas it is least prevalent in London.

Ian Potter, operations manager at ARLA, says: “With unemployment predicted to rise and average rents also increasing in some parts of the country, it seems more and more tenants are finding it impossible to make ends meet.

“It is likely that the same is happening for landlords, who may find their mortgage rate is rising. At worst, this double whammy may result in landlords defaulting on mortgages and tenants being forced to move out of a property.”