Renters finding themselves in debt difficulties

Wed, 04 Jul 2012

Many people renting property in the UK are struggling with debt difficulties, new research has suggested.

According to the Tenant Arrears Tracker from Templeton LPA - part of LSL Property Services and the specialist practice of LPA Receiver - the number of tenants in serious monetary trouble escalated by eight per cent in 2012's second quarter.

It was demonstrated that the second three-month period of the year saw over 7,000 more individuals falling over two months in when compared to the amount witnessed in the first three-months of the year.

It means 100,000 renters are currently experiencing severe due to rising rents and falls in real terms wages.

Paul Jardine, director and receiver at Templeton LPA, noted: "With the instability in the labour market and wider economy ... the section of renters in multiple months of arrears is likely to continue its expansion."

Mr Jardine explained there remains a stark contrast between better-off renters having difficulty accessing the housing market and tenants struggling to keep their head above water, adding a rise in evictions is also on the cards.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.