99,000 tenants in severe arrears

The rapid growth in the number of tenants in severe arrears is slowing, according to the latest Tenant Arrears Tracker by Templeton LPA. In Q3 2012, the number of tenants in arrears of more than two months grew by 1.6% on a quarterly basis. This represents a slower rate of increase than the 4.6% quarterly rise seen in Q2 2012. Despite slower growth, the number of tenants in severe arrears is now 99,000, the highest number on Templeton LPA's records, which extend back to 2008.  Following the steady quarterly rise, the level of severe arrears is 15% higher than the average for the previous 12 months. Trinity Financial has access to a number of rent protection insurance policies. They are designed to protect the landlord in the event of the tenant not paying their rent to a maximum of £2,000 each month. The insurer can cover legal expenses for irrecoverable costs and fees to pursue or defend claims involving a breach of tenancy agreements. The maximum they will pay for legal expenses and rental guarantee in any 12 month period is £50,000. October 12, 2012