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More than 800,000 renters are overdue for landlords demanding urgent government support during the crisis

Approximately 840,000 private renters in England and Wales have accumulated rent delinquency since the blockade began, according to a new survey.

According to a survey of tenants by the National Association of Residential Landlords conducted by research consultant Dynata, 7% of all private renters were accumulating delinquency due to Covid.

Average delinquency was between £ 251 and £ 500, but research shows that 18% have rent debt in excess of £ 1,000, which is equivalent to 150,000 individual lessors across the private leasing sector. I will.

Tenant Trouble: Data suggests more lessors are in arrears with their landlord

The figures provided by the charity shelter also show that the number of overdue renters has more than doubled since August last year.

Polly Neat, Chief Executive Officer of the Shelter, said:

“Hundreds of thousands of people are at stake and struggling to pay rent due to unemployment and reduced working hours.”

“As the pandemic economic shock wave continues, things will get worse if the government doesn’t act swiftly,” Neat said.

According to an NRLA survey, self-employed people paying rent are most likely to be overdue, with 17% saying they have been in debt for rent since March.

In terms of age group, surveys show that young people are most likely affected, with 14% of renters between the ages of 18 and 24 accumulating delinquency since March.

West Midlands has the highest rate of delinquency across England and Wales, with 11% of tenants having a rental deficit since March.

The next worst was London, where 9% of lessors reported delinquency charges.

During the pandemic process, tenants are much more likely to lose income than homeowners call Hampton.

During the pandemic process, tenants are much more likely to lose income than homeowners call Hampton.

Ben Biddle, Chief Executive Officer of NRLA, said:

“The minister must accept that simply banning ownership does not keep tenants at home in the long run.”

“Kicking out a can means more debt builds up and causes bigger problems for tenants and landlords, so it will achieve complete opposition.”

NRLA urges the government to guarantee interest-free and difficult loans and to increase payments of benefits.

“To retain tenants, the government needs to provide an urgent financial package to repay the rent debt incurred during the pandemic,” Beedle added.

Tom Mundy, Chief Operating Officer of Lettings Technology Company Goodlord, believes that today’s numbers truly reflect what is being seen across the UK rental market.

Mr Mandy warns that without government intervention, mass evictions are likely to occur, putting great pressure on the courts.

What advice would you give to a lessor who is overdue?

The most important thing is to keep the line of communication with the landlord open.

“Make sure you are open and honest and plan to agree with your landlord or rental agent,” Mandy said.

“Burning your hands in the sand due to overdue rentals won’t help anyone. Your debt will catch up with you as the court begins to allow the eviction process to proceed.

“Receiving a county court ruling can stay in your credit record for up to five years, which can have widespread implications for other areas of your life,” he added.

“Importantly, having more than 6 months overdue means that once the ban is lifted, we can speed up the eviction process, which means 6 to 4 weeks of notice.”

“If you want to gradually repay your debt and stay in your current assets, try to keep your debt below that threshold.”

Any advice for the landlord?

The landlord must have rental insurance and if the tenant is in arrears, seek professional legal advice.

“This is a particularly stressful time for landlords who haven’t paid their rent but are paying their mortgages,” Mandy said.

“Rent insurance can help landlords miss a certain amount of rent or pay legal costs.”

“Also, landlords are strongly advised to seek legal advice as it is imperative that they receive credible guidance from someone who can help them understand this area and deal with it appropriately and legally. I recommend it. “

According to Mandy, seeking a compromise between meditation and repayment plans should always be the first port of call.

“For example, market demand from new tenants is still strong, so it is worth considering negotiating whether current tenants can move out before the end of the lease if they are unable to pay.”

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More than 800,000 renters are overdue for landlords demanding urgent government support during the crisis

https://www.dailymail.co.uk/money/buytolet/article-9079123/Over-800-000-renters-arrears-landlords-demanding-urgent-government-support-amidst-crisis.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 More than 800,000 renters are overdue for landlords demanding urgent government support during the crisis

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