Home Property Hard up renters are going without heating and food in order to pay their landlords

Hard up renters are going without heating and food in order to pay their landlords

by LLP Finance Reporter
31st Jan 24 2:49 pm

The study by Quotezone.co.uk revealed that 26% of tenants have turned their heating off to ensure they can meet their monthly rent.

A further 15% said they had gone without food so they could pay their rent with another 7% admitting to turning off electrical items to save on energy bills.

The cost of living crisis and high cost of fuel along with soaring rents means tenants are under severe strain with more than half of renters (53%) admitting to feeling stressed over how they were going to find the cash to make their payments.

More than a third of tenants (37%) said their mental health had been affected by concerns over how they could pay their rent.

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The news follows the release of official figures which revealed private rent increased by 5.7% in the 12 months to September 2023 – this figure represents the biggest annual percentage change since this data was collected in 2006.

Now Quotezone.co.uk are calling on landlords to listen to the concerns of their tenants and to offer flexible payment terms and more understanding.

Landlords can only increase rent prices once a year, and this can be negotiated. Price hikes must be fair and in line with other properties in the area.

Greg Wilson, founder and CEO of Quotezone.co.uk said, “It’s shocking to see that over a quarter of tenants in the UK are going without essentials such as food and heating in order to pay their rent.  As the colder months approach, it is a dangerous situation for many renters to be in.

“With the results of this survey showing that many Brits are making serious sacrifices, it is unsurprising to find that over half of tenants feel stressed when trying to find the money to pay for their rent and household bills – with over a third of tenants saying their mental health is affected by concerns over renting.

“Renters should be aware of what their rights are to help protect their homes. Any price increases on rent should usually come with one month’s notice.

“It does depend on what the contractual agreement is, but the amount landlords can increase the rent must be fair, realistic and in line with other properties in their area.

“Price increases can only happen once per year and the price can be negotiated – knowing this is important and can save renters from agreeing to rent price hikes.

“Nearly a third of those surveyed, 28%, also said they were surprised by additional costs when renting – with items such as maintenance costs and agency fees amongst the top responses.

“Renters or tenants’ insurance is one way to help protect from further surprises, which can even include tenants’ liability cover to protect the fixtures and fittings from accidental damage – which should help keep the renters security deposit intact.”

Renters insurance is a form of contents insurance that usually protects belongings if they are stolen or damaged – note, not all come with accidental contents damage which protects possessions from mishaps so tenants should be sure to read the policy details.

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