More than two million private renters in England would be immediately unable to pay their rent if they lost their job, research from the homelessness charity Shelter has revealed.
The number of renters who are one pay cheque away from losing their home has risen by almost a third (31%) in just two years, according to the charity.
Over a third (34%) would be immediately unable to pay their rent if they lost their job and one in two renters – 3.2 million adults – wouldn’t have enough in savings to pay their rent for more than a month.
Polly Neate, chief executive of Shelter, said: ‘Private renters up and down the country are facing a crisis like never before. Decades of failure from government to build enough social housing means that the pressure on oversubscribed private renting is worse than ever.’
Commenting on the findings, Ben Twomey, chief executive of Generation Rent said: ‘This survey reveals a painful truth – renters are in a more precarious position than ever. In such an uncertain economic climate, it is terrifying that over half of renters may not be able to find money to pay their rent if they were to suddenly lose their job.’
