Will your tenant pay the rent this January?

Posted: 07/01/2015 11:10:54

More than 3 million households in Britain fear missing their rent or mortgage payments this month, according to Shelter.
Research from the housing and homelessness charity shows that almost 60% of people say they are struggling to meet their housing costs. One in nine fear they will be unable to meet January’s payments, as families struggle to balance their budgets after Christmas. 
Shelter says “sky high housing costs” mean more people risk not being able to pay their mortgage or rent and the charity has warned that an interest rate rise will put many more people in trouble.
“Many people have spent a long time thinking they have nowhere to turn and are often close to breaking point by the time they come to us. If you’re in this situation, it’s so important to remember you’re not alone and that help is available,” said Shelter’s helpline adviser, Nadeem Khan.
Shelter says the number of visitors to its website seeking advice on eviction, repossession and rent and mortgage arrears has spiked in recent months. 
Just last month the National Housing Federation claimed that “squeezed renters” are cutting back on food and heating to make ends meet. Renting families with children are particularly feeling the strain with just over two fifths (41%) saying they struggle to pay for their home.
David Orr, chief executive of the National Housing Federation, said: “It’s just unacceptable that families are left struggling to pay for homes in the private rented sector that they can’t even afford to heat properly.
“We have too many renters just keeping their heads above water, who are being kept awake at night and suffering from stress over the worry of paying the next rent bill.
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