Housing providers could see a £220m spike in arrears this year, according to Housemark, due to this financial year having 53 ‘rent weeks’ while the governments’ universal credit payments only cover 52 weeks.
Jonathan Cox, director of data and business intelligence, Housemark, said, “This 53-week problem comes at the worst possible time for tenants as households continue to face challenges due to the cost-of-living and price rises.
“While the social housing sector is generally very good at managing and collecting rent arrears, housing providers need to monitor the impact of policies, events and circumstances that might push their tenants into debt and affect their income management.”
