Economic uncertainty hitting rent payments

Increasing numbers of tenants are struggling to pay their rents on time, according to latest research from letting agents.

41.2% of Association of Letting Agents (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.

Consequently, 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, said: “With unemployment predicted to rise and average rents also increasing in some parts of the country