{"id":2195,"date":"2013-06-27T09:00:42","date_gmt":"2013-06-27T09:00:42","guid":{"rendered":"http:\/\/blog.legal4landlords.com\/?p=2195"},"modified":"2013-06-27T09:00:42","modified_gmt":"2013-06-27T09:00:42","slug":"tenant-rent-arrears-falling","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/lforl\/tenant-rent-arrears-falling\/","title":{"rendered":"Tenant Rent Arrears Falling"},"content":{"rendered":"
\"Landlords<\/a>

Landlords use Rent Guarantee Insurance to protect the rental income<\/p><\/div>\n

Rent Guarantee Insurance
\nReduces Landlord Rent\u00a0Arrears Worry<\/span><\/h2>\n

Private rental sector rent rises slowed down in May and even tenant rent arrears are falling as more landlords use Rent Guarantee insurance <\/a>to protect the rental income.<\/p>\n

According to LSL property services, the UK private rental sector (PRS) is still growing, with the number of new tenants up by 3.4% in May compared to April and up by 5.1% when the figures are analysed on a year on year basis.<\/p>\n

However, LSL reckon that tenant demand for rental property would have been higher still had it not been for a flurry of first-time buyer activity caused by the launch of the Help-to-Buy scheme.<\/p>\n

Tenant rent arrears are falling, in part, due to the wider use of specialist insurance products designed to guarantee a rental income should the tenant default on payments due to a change in financial circumstances, however the landlord does have to\u00a0reference the tenants before taking out the rent guarantee insurance.<\/p>\n

Private sector rents increased by just 0.1%, taking the average monthly rent paid by tenants in England and Wales to around \u00a3737 (GBP) per month.<\/p>\n

Six out of ten UK regions saw rents increase during May 2013.
\nThe fastest increases were:<\/p>\n