Tenants in severe arrears fall 15.6% in Q4
The number of tenants in severe arrears fell by 15.6% in the final quarter of 2012, according to Templeton LPA's tenant arrears tracker.
The latest figures show that the number of tenants in severe arrears dropped by 15,000 to 86,000 - the lowest level since the final quarter of 2011.
In the third quarter of 2012, 25,756 tenants faced eviction notices and this represents a quarterly rise of 5.5%.
David Brown, commercial director of LSL Property Services, is quoted as saying: "Investors should place financial suitability of any prospective tenant high up their agenda when letting a property. Cutting corners at the point of vetting a tenant is a false economy and can prove costly."
January 4, 2013
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