Published: 21/02/2025
Deposits firm reveals shock 44% jump in rent arrearsAverage arrears rose from £1,802 to £2,597 last year which is a rise of 44% says deposit alternative firm Reposit.
Rent arrears have increased significantly recently by 44% as tenants struggle for a variety of reasons to pay their rent, new data shows.
With average arrears now surpassing £2,500, the shortcomings of cash deposit schemes have become increasingly evident. This is concerning for landlords, especially with the upcoming Renters’ Rights Bill, which will abolish Section 21 evictions and eliminate a key layer of protection.
Once enacted, the Bill will stipulate that tenants must be at least three months in arrears (currently two months) or 13 weeks for tenants paying weekly or fortnightly (currently eight weeks) before a landlord can effectively use a Section 8 notice to evict.
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Source thenegotiator.co.uk