Real Estate
More tenancies end with more than five weeks’ arrears
![More tenancies end with more than five weeks’ arrears More tenancies end with more than five weeks’ arrears](https://i1.wp.com/www.propertywire.com/wp-content/uploads/2018/01/UStoRent.jpg?w=780&resize=780,470&ssl=1)
An increased number of tenancies are ending in arrears worth more than five weeks’ rent, research from Reposit shows.
In 2024 so far, at the end of 17% of tenancies landlords said they needed to reclaim more than five weeks of rent to cover costs such as rent arrears or damage.
This represents an increase from 13% in 2023.
Ben Grech, chief executive of Reposit, said: “Our figures show cash deposits are now inadequate across a significant portion of the market and one which is growing, most likely caused by the cost of living crisis.”
Reposit has a product which offers landlords eight weeks of rental cover.