TPP397: We reveal the area with the worst rental arrears in the UK (and two big news stories)
What impact has coronavirus had on rental arrears?
It’s safe to say that coronavirus has had the opposite effect on house prices than what we originally thought it would. But what about rental arrears?
Understandably, tenants have struggled more than ever to pay their rent. The government has even put in considerable measures to stop you from taking action against those tenants.
But what impact has the coronavirus actually had on rent arrears?
Here’s what to expect on this week’s property podcast episode
There’s been a lot of contradicting surveys out there which makes it harder to actually know what the real impact has been.
But Rob & Rob have recently come across a report from Pay Prop which gets into this data - and that’s what The Robs are going to be picking apart.
The data looks at actual transactions from thousands of different tenants, so you can guarantee it to be more reliable than the numerous surveys asking landlords for their individual thoughts.
While the effects of coronavirus are being felt across the country, this led us into looking at tenant arrears as a whole.
If you’re a long-time listener, you’ll know that choosing where to invest is one of the most important things you need to consider when investing in property.
Because, believe it or not, there are a few areas in particular where a huge one in four tenants are in arrears.
Where are these areas?
That’s exactly what Rob & Rob are discussing on today’s episode.
Tune in to find out.
In the news
Maybe it’s the time of year, but we’ve come across one news headline that’s terrified us.
Like Rob B, many others thought it was going to support the market when in actual fact it’s going to cause a crash!
However, like all good headlines, there is one major factor that The Guardian have missed out of this story.
The fact that 95% mortgages will first bring about a property boom and then a crash.
Which shouldn’t surprise you if you know how the 18-year property cycle works. There’s a crash after every boom.
If that wasn’t enough, we’ve found another headline which might not seem as interesting, but has the potential to be a bigger story.
The standard of the rental market seems to constantly be upping its game. And it seems that John Lewis wants a piece of the pie.
The owners of the company also own Waitrose and therefore already own a lot of land and they want 40% of their annual income to come from somewhere other than retail. Hence why they’re turning to property.
Not only will all properties be furnished with John Lewis furniture, there will also be a food delivery service for tenants from Waitrose.
These are certainly going to be high-end properties.
Do you hate cookies?
No, not the biscuit kind. The ones that pop up on every website you visit.
Well, so does Rob B and after moaning about it to Rob D, he was introduced to this nifty little tool.
It’s a browser extension called I don’t care about cookies. It works across all major browsers, simply just install it and the majority of those annoying pop ups will be blocked.
So now the only cookies you need to concentrate on are those that you’re dunking into your brew.
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