Ben Grech, CEO of Reposit, pointed out that the increase in rent arrears reflects the difficult times tenants are facing, which will also pose challenges for landlords and rental agencies. He added that as arrears increase, there will be more associated paperwork, disputes, and delays.

The sharp rise in the number of rent arrears is consistent with broader economic trends, including increases in mortgage defaults and credit card defaults during the same period. Trend-tracking data from Rightmove shows that tenants' affordability is currently at a critical juncture, with 23% of rental properties advertising reduced rents.

These data reflect some of the difficulties and challenges in the current socio-economic situation. Factors such as the pandemic have led to many people losing their jobs or income, affecting their ability to pay rent.

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Meanwhile, landlords and agencies are also under pressure to deal with overdue rent issues and ensure the smooth operation of their properties. This situation may also lead to more legal disputes and dispute resolution work, posing significant challenges to the entire industry.

In this context, the government and relevant authorities need to take measures to alleviate the difficulties faced by both tenants and landlords. This may include providing financial support, introducing more flexible leasing regulations, and launching additional housing assistance programs to ensure as many people as possible can continue to live and work in peace.

Ultimately, this data serves as a warning to the rental market, reminding us of the pressures and challenges faced by certain groups in the current socio-economic situation. Only through effective measures and collective efforts can these issues be resolved, ensuring that everyone can live and work safely and stably.