With furlough drawing to a close and a rise in redundancies brought about by the Coronavirus pandemic, sadly many people are struggling to pay their rent. In fact, according to figures released earlier this year by Citizens Advice, around half a million private renters in the UK are behind on their rent, with many of these facing financial difficulties for the first time due to the pandemic. Couple this with the end of the coronavirus eviction ban, and this has fast become an immensely worrying time for renters.
Thankfully, there are many options for struggling tenants out there, some of which we will run through below.
This may seem like an obvious one, but rent is considered a priority debt. Put simply, priority debts are those that are deemed to be more important or ones that bear more serious consequences if you fail to pay. These usually include things such as mortgage payments, utility bills and, of course, rent payments. The idea of priority debts is to help you work out what you need to pay first. So, if you are overwhelmed and confused by which type of debt you should try and pay off first, opt for rent payments.
Due to the coronavirus pandemic, there are currently different leniencies and payment holidays for things such as credit cards, car loans and personal loans. Therefore, even though you may not be able to get a payment holiday on your rent, there are other ways you can gain some short-term financial relief and allow you to pay that priority rent bill.
If you have direct contact with your landlord, it is well worth getting in touch with them if you are struggling with rent payments. They may be able to offer a payment break, rent reduction or negotiate on your rent but, they can only do this if they know your circumstances.
Although trickier if you have no direct contact with your landlord, the same can be said if you are with a rental agency. After all, everyone is aware of the financial hardships the Covid-19 pandemic has brought about and therefore, many companies are putting in place measures for people struggling with rent.
With many facing financial hardship for the first time during the Covid-19 pandemic it can of course be difficult to know what help is out there, especially when it comes to benefits.
Whether you are out of work or your income has reduced, if you are struggling to pay your rent, check if you are entitled to any benefits that you are not already claiming.
You can find out more information on benefits and how to see what you are eligible for in our benefits guide.
If you are struggling to pay your rent and are falling into arrears, you should seek debt advice immediately.
Our free, no obligation debt advice tool can let you know if any debt solutions can help you deal with your debts and get you back on track with your rent payments. From the Government Debt Respite Scheme to Debt Management Plans, we can help you get back on track and manage your rent payments.
If you are struggling to pay your rent and want to speak to one of our expert advisors call us on 01925 599 400 or email firstname.lastname@example.org. Alternatively, get debt advice using our free online tool.
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