Finance News

Rent arrears crisis for thousands of tenants

Em Morley - January 9, 2014

A recent YouGov survey suggests that thousands of tenants are extremely worried about dropping into rent arrears in the very near future.

Breaking point

The YouGov findings, on behalf of charity organisation Shelter were collated from a poll of more than 4,000 UK residents, with the results making for concerning reading.

Indications from the findings show that a large number of tenants are concerned about the future of their tenancy payments, with budgets across the UK stretched to the limit.

The survey suggests that families are in line to be most affected, with 70% of rent payers with children to support presently behind or struggling to keep up with their payments.[1]

Rent arrears crisis for thousands of tenants

Rent arrears crisis for thousands of tenants

Worried

Shelter has promoted its concerns that more people are putting off paying their bills until their deadline has passed, putting their homes at risk. Findings from the survey indicate that one in five people are that concerned about their finances that they have not opened post if they believe it is a bill or notice about late payment.

Chief Executive of Shelter, Campbell Robb, said that he was worried about the results of the research. Mr Robb said, “It’s a worrying sign of the times that so many are starting the New Year worried about how they’ll pay their rent or mortgage in 2014. Unless they get help, some of the families struggling now could face the very real prospect of losing their home this year.”[1]

[1] http://old.lettingagenttoday.co.uk/news_features/Rent-arrears-crisis-looms-for-thousands-of-tenants