Half of tenants worried about living situation: Opinium - Mortgage Strategy

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Almost half of renters are worried about the impact of the covid-19 pandemic on their living situation, according to new research by Opinium on behalf of Arla Propertymark.

Meanwhile 58 per cent of tenants who were in work before the outbreak say their job has been impacted in some way by the crisis.

Among this group, 43 per cent have struggled to pay rent, bills or meet the cost of other essentials such as food.

A quarter have either voluntarily left their home to move in with friends or parents, or they have asked to end their tenancy early to avoid paying rent.

A further 24 per cent of those whose employment has been affected by covid and 12 per cent of the wider tenant population say they have already had to dip into their savings to cover everyday costs.

A sixth of renters have had to seek financial help from family, Universal Credit or other sources, rising to almost a third of tenants whose work has been hit.

Renters would generally like to see more financial support in the form of a ban on energy cut-offs, a freeze on rent rises or an advance on Universal Credit payments.

However, many tenants were unaware of the details of current government support measures, such as hardship funds, bolstering the housing element of Universal Credit and the ban on evictions.

Landlords are also nervous about the future with 73 per cent worried their tenants will not be able to pay rent and 70 per cent concerned their tenants will leave their property creating a void.

Arla Propertymark chief executive David Cox says: “It is worrying to see that the vast majority of renters and landlords are concerned about rent payments. 

“Unfortunately, as the Covid-19 pandemic continues, more people may see changes in their income which could leave them stressed about affording rent whilst providing for themselves and their families.

“However, there is lots of government support available that should allow tenants to continue to pay their rent and landlords to have an income if rent payments do stop.

“Clearly not enough is being done to explain and highlight these policies, but we would urge everyone to look into these and understand what help they may be eligible for. 

“Both renters and landlords should take full advantage of the government schemes available during this difficult period.”

Opinium chief executive James Endersby adds: “Our research shows that renters are finding it particularly tough. 

“Many have found their employment situation has changed, but their rental payments still remain, and this is already becoming a struggle for some. 

“A substantial number of renters have had to use savings or financial help to get by, and if we are in this predicament for the long term then their problems will only get worse.

“It is clear that renters do not have the full perspective of their rights and entitlements that are crucial in guiding them through the outbreak, but these measures could make all the difference.”


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