56% Landlords with reduced income due to Covid-19
We know that most tenants have continued to pay rent; this has been assisted by the Government’s furlough scheme and as the measures reduce, there is a risk that tenants will build unsustainable arrears if additional support is not provided.
The NRLA commissioned research company Dynata to conduct a survey of 2,077 private rented sector tenants in England and Wales on our behalf in November 2020.
88% have paid their rent as usual since lockdown measures were introduced. A further 3% agreed to a reduced rent or rent-free period with their landlord that they don’t need to pay back.
7% of tenants had built up arrears – we estimate this as over 800,000 renters, with the research showing younger tenants and the self-employed are most likely to have done so.
18% of tenants had built up over £1000 of arrears.
Further research with NRLA members suggests that over half of landlords have lost rental income due to the impact of the pandemic.
Landlords are mostly thinking of selling some of their properties, if you know someone who is experiencing the effects of Covid-19 on their properties let us know and we will get in touch to help them with the easiest way to sell their property.