Rent arrears increase by 146 per cent
Rent arrears are now the UK’s fastest growing debt according to debt advice charity, the Money Advice Trust.
The number of tenants calling the charity for help and advice about rent arrears has risen by 146 per cent since the pre-crisis world of 2007, with nearly 20,000 calls received last year compared to 8000 six years previously.
Calls about rent arrears have also risen by 13 per cent in the last 12 months and now account for 57 per cent of all calls made to National Debtline.
Rob Denman, Head of GW LET, comments:
“While we are starting to see some light at the end of the financial crisis tunnel, many of us are still struggle to keep on top of all our outgoings.
“As a landlord I can sympathise with tenants who are not deliberately missing rental payments. However I also know that landlords too have increasing outgoings and therefore do not have the luxury of leniency.
“If you have tenants in rent arrears we can help you minimise the financial implications.”
Content correct at time of publication