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Almost a quarter of renters say they are “struggling to pay their rent,” while more than half worry about keeping up with their payments, according to a Deposit Protection Service survey.
It found that 51% of renters are worried they won’t be able to manage their housing costs in the future, and 23% are currently having trouble paying their rent bills, according to a government-supported survey by the Housing Depository Service. England and Wales. . .
It says 62% of recent movers are paying higher rents than expected, and 64% have had to make financial sacrifices to pay for new housing costs.
The study adds that half of all renters who have moved home within the past year are paying between £51 and £200 to rent more per month.
About 18.5% of new settlers pay £201 to £300 a month for new rent, while 7% pay £301 to £400 more. Only 3% of settlers paid less than £50 a month to move to a new location.
UK annual rents fell 11.1%, or an average of £1,078 a month, in the first quarter of the year, according to data from Zoopla this week. “to continue to outpace revenue growth” this year.
A study by the Depository Service found that 30% of recent movers were forced to take on extra work or extra work to meet rental obligations.
Among all tenants surveyed – those who moved and those who stayed – 33% reported an increase in rent in the last 12 months, and 27% said they were paying a quarter more per month than the previous year.
Among renters who find it difficult to keep up with housing costs, 29% say they are spending less, a quarter have taken on extra work, and 30% plan to lay off staff.
Matt Trevett, managing director of Deposit Protection Services, said: “These results show that rent increases are happening across the country and are clearly impacting both moving and non-moving tenants.
“A large proportion tell us that they are reaching the limits of what they can afford as a result of a combination of higher than expected rent, food and energy costs, and express concern about the future if their rent continues to rise. “.
The firm surveyed 2,025 of its tenant clients in England and Wales between March 7 and 13.
Post Almost a quarter of tenants are “fighting” with paying rent: DPS first appeared on Mortgage Strategy.
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