ao link
0 £0.00
This item was added to your basket
Credit Strategy homepage
LinkedIn
Twitter
Intelligence, Insight and community for responsible professionals in credit

Unexpected rent arrears built up since pandemic hit

Landlords, letting agents and charities are calling for an emergency fund to help renters clear Covid-19 rent debts.

New research carried out by Shelter and YouGov shows 322,000 adult private renters, who were not in arrears prior to the pandemic, have since fallen behind on rent.

 

The coalition, which includes Shelter, the National Residential Landlords Association, ARLA Propertymark, Crisis, Citizens Advice and Generation Rent, is calling for a short-term package of emergency grants and loans worth £270m to help renters who have lost out on income as a result of the pandemic.

 

The coalition argues this would help both tenants keep their homes and landlords who rely on rental income for their livelihoods. They explain that it will also prevent rising homelessness. In July, debt advice charity StepChange and campaign group Generation Rent warned half a million renters may lose their homes after the rental eviction ban is lifted.

 

Chris Norris, policy director for the Nation Residential Landlords Association, said: “Whilst the vast majority of landlords and tenants have been able to reach agreements where rent arrears have built, in some cases this has proved difficult. A financial package, such as that we propose today, would greatly assist tenants and landlords to achieve what we all want, namely to sustain tenancies.”

Please login to continue reading this article.

Not a member?

Become a member

FREE registration. No credit card required

Register now
  • Stay up-to-date with industry news and appointments
  • Hear about events first
  • Read 1 free Premium article per month

Become a premium member

From as little as £3.48 per week

Become Premium
  • All the perks of a standard member plus:
  • Access to the entire Credit Strategy website
  • 12 months subscription to Credit Strategy Magazine
  • 25% discount to all conferences
  • Exclusive access to Premium Member only roundtables
  • 50% off award entry fees

GET THE LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX

READ NEXT

The Credit 500 for 2021 has been revealed – with a new focus on gender diversity

The Credit 500 for 2021 has been revealed – with a new focus on gender diversity

Virgin Media and 02 merger gets provisional green light

Virgin Media and 02 merger gets provisional green light

“The ability of humans to adapt is fantastic”

“The ability of humans to adapt is fantastic”

Credit Strategy
LinkedIn page

Member of

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace. @ Copyright Shard Media Group