Rising rents and gaps in housing benefit leaves tenants facing ‘toxic cocktail’
A report by insurer Royal London has warned that renters face a “toxic cocktail” of rising rents and gaps in housing benefit. The report, called ‘Renters at Risk’, reports a surge in the number of currently employed renters who would be unable to pay their rent in the event they suffered a loss of income through unemployment or sickness.
Based on a detailed analysis of the Government’s Family Resources Survey the report estimates that 3m adults who rent a home based on two wages could struggle to meet rent payments on one wage, but would still not be eligible for housing benefit to cover any rent shortfall.
Full story available from Property Industry Eye: http://www.propertyindustryeye.com/private-tenants-facing-toxic-cocktail/