People who rent a property are finding it difficult to afford the rent on their current income, a new Which? survey has revealed.
The survey found that 47% of those in the rental market are finding it difficult to pay their rent, compared to 27% of home owners.
If you’re struggling with your rent, see our guide to moving out before the end of your tenancy.
During the month of May, 42% of renters cut back spending on essentials, compared with 28% of those who own their home.
The survey is based on the Which? online Consumer Insight Tracker, which surveyed 2,056 UK adults, between 24th and 27th May 2013.
Renting your home
When thinking about renting a house, you should always check your tenancy agreement for essential information on the property, rent and deposit.
If you paid your deposit after 6 April 2007, your landlord should have put it in a tenancy deposit protection scheme. The scheme was introduced by the government to ensure neither the landlord nor the tenant loses out.
If you’re having problems with deposit returns, use our template letter asking for your deposit back.
77% of home-owners say they are satisfied with their homes, compared to 59% of people who are renting. So, if you’re thinking about buying a house, see our guide on first time buyer mortgages.
Which? state of the nation
The Which? Consumer Insight Tracker provides a detailed picture of today’s consumers. The tracker, updated monthly, has data on how consumers are feeling and behaving in the current economic climate and their attitudes towards spending, household finances and trust in industries.
To find out more on the information we track, visit our Which? Consumer Insight Tracker.