The percentage of landlords who have experienced rent arrears in the past year has dropped to 26%, the lowest figure since tracking began. This is a notable decrease from 42% in 2020, according to Pegasus Insight's latest Landlord Trends research.
Despite this overall decline, landlords with larger portfolios are more likely to face arrears. The research indicates that 66% of landlords owning 11 or more properties experienced rent arrears, in contrast to 18% of those with one to 10 properties.
Separately, Pegasus Insight's Tenant Trends research found that 12% of private renters missed a rent payment in the previous year. Around nine in 10 tenants described their rent as manageable or comfortable, but a significant minority are reportedly choosing between rent and other essential household costs.
Void periods also remain a challenge, with 41% of landlords experiencing an empty property for more than seven days in the last 12 months. These voids lasted an average of 66 days, and 68% of landlords with 11 or more properties reported a void.