- Thursday, 11 February 2010An
IVA may benefit those tenants who are struggling to meet their rental payments.
According to a study by the Association of Residential Letting Agents (ARLA), which surveyed 340 landlords, 55 per cent have seen an increase in tenants finding it difficult to meet their rental payments.
ARLA operations manager Ian Potter said the figure was a concern, stating that unemployment has been the driving factor behind rental arrears during the recession.
"If the jobless total rises in 2010 it is inevitable that the number of tenants forced to default on their rent will also increase," he said.
"The problem of rental arrears will therefore persist and potentially grow in seriousness as tenants get caught in a web of debt."
A recent survey by housing charity Shelter revealed that more than one million householders used their credit cards to pay their mortgage or rent in the last 12 months.
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