Real Estate
More tenancies end with more than five weeks’ arrears
An increased number of tenancies are ending in arrears worth more than five weeks’ rent, research from Reposit shows.
In 2024 so far, at the end of 17% of tenancies landlords said they needed to reclaim more than five weeks of rent to cover costs such as rent arrears or damage.
This represents an increase from 13% in 2023.
Ben Grech, chief executive of Reposit, said: “Our figures show cash deposits are now inadequate across a significant portion of the market and one which is growing, most likely caused by the cost of living crisis.”
Reposit has a product which offers landlords eight weeks of rental cover.