Rent Arrears

Falling into rent arrears is a common problem for many renters who are struggling to balance their outgoings with their income. For some, simply managing payments can seem like a daunting task due physically and mental health illnesses. Others may have a sudden change in their circumstances which mean they either forget to make payments or are unable to.

Whatever the reason for falling into arrears, many people find it embarrassing and extremely stressful.

 Research carried out by PayPoint, demonstrates that renters want and need the right support to ensure that it is less likely they will fall into arrears. Their research highlights that More than half of renters (57%) find it intimidating when their landlord calls them by telephone about an overdue payment.

• 62% would welcome payment reminders by text message

• 69% of renters would greatly welcome a flexible payment option to help reduce rental arrears and manage future payments

• Sympathetic communication from tenants' housing associations or letting agencies was important to renters

(PayPoint, Welwyn Garden City, 9 September 2020)

LettsPay can overcome this embarrassment for tenants as their platform offers all of the above. Text reminders are automatically sent out 5 days before a payment is due, or if a payment has been missed. If a renter knows that they are unable to make a payment, they can quickly and easily set up an alternative payment method - this means that a third party,

i.e. a family member, is able to make a payment on their behalf, ensuring that they do not fall into arrears. This system allows tenants to monitor their account without any communication with their landlord if this is what they want.