Debt problems – rent struggle
17/01/2011People throughout Britain struggling with debt problems may also be having difficulties in paying rent, new research has shown.
A higher proportion of tenants in the UK are finding it harder to make their rental payments, according to a letting agents group.
The latest survey carried out by the Association of Residential Lettings Agents (ARLA), as many as 40 per cent of its members claim more tenants are failing to meet rental costs or are unable to pay the full amount.
This figure takes in the last six months, and is up from a ratio of just less than 36 per cent in quarter three of 2010.
"It's a situation which can have serious repercussions throughout the private rental sector as, without guaranteed rent income, landlords may also have problems paying mortgages," said Ian Potter, operations manager at ARLA.
Debt expert, Kevin Still says: "There is a risk of both the tenant and the landlord getting into debt problems if rent arrears accumulate. Rent, council tax and utility bills need to be prioritised ahead of unsecured debt repayments, like credit card debts, but people often pay the most aggressive debt collector first.
"Professional debt advisors can assist tenants in establishing an effective budget and if there is a deficit – determine who must be paid first." 
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