Friday 4th of March 2011
Increases in rents could be the trigger that causes tenants in deep financial trouble - such as those owing debts of more than £15,000 - to seek IVA answers as a way to relieve the burden.
The latest Residential Lettings Survey from the Royal Institution of Chartered Surveyors (RICS) revealed rents rose at a rapid rate in the three months to the end of January.
According to the study, 40 per cent more chartered surveyors reported that these prices escalated, rather than dipped, in this time frame.
RICS noted the movement has occurred as a result of a falling supply of rental properties and continued strong tenant demand.
Spokesman for the organisation Jeremy Leaf said: "Rents will remain on an upward trajectory adding to the pressure on many households whose incomes are already being squeezed by rising inflation prices and the hike in VAT."
Recent research from Bright Grey revealed 17 per cent of those who are living by themselves are overspending on their lifestyles.
By Rachel Powell
