Approximately 500,000 (32%) landlords in the UK have experienced rent arrears in the last 12 months, according to the National Landlords Association (NLA).

The typical landlord faces £1,649 of outstanding rent each, totalling £850m worth of rent arrears across the UK.

Carolyn Uphill, Chairman of the NLA, said: “All landlords will be affected by one or more of these issues to some extent somewhere down the line and it’s vital to keep in mind the major threats to the success of your business.

“Regardless of the size of your portfolio the potential impact of these risks can be devastating on both the business and personal life. As the largest landlord association in the UK, we have a duty to support and advise on how to plan ahead effectively and manage these risks”.

The research from the NLA also shows that approximately 300,000 landlords (22%) are worried their tenants won’t be able to keep up rental payments over the next year.