A recent survey of 2,000 tenants in England and Wales finds nearly a quarter – 23 per cent – stating they are finding it far harder in managing to pay their rent.

The Deposit Protection Service which undertook the survey, claims 51 per cent renters that responded to the poll said they are constantly worrying about being able to pay rent in the oncoming months, with 33 per cent stating they had to contend with rent increases over the past 12 months and 27 per cent claiming they are now paying 25 per cent more a month, than a year ago. 

Of those renters who are moving to new properties, 62 per cent said they are having to pay more than expected whilst 64 per cent said they are having to cut back spending to afford the higher rental payments.

The DPS also states that 30 per cent of respondents who had previously moved to a new home in the past 12 months, said they had to fund higher rents by taking on additional jobs or by taking on extra work, and 45 per cent of tenants who have stayed in their properties have had rent increases over the past twelve months.

A spokesperson for DPS says: “These results suggest that rent rises are taking place across the country and are clearly affecting moving and non-moving tenants alike. As a result some tenants are making significant lifestyle and financial adjustments to continue renting or secure their next property.