Problems
paying your rent? Here’s some advice
If you think you’ve overstretched yourself
with rent payments, fallen into debt or your circumstances have changed and you
can no longer afford it, don’t panic. Here are a few tips to help you through.
Don’t
ignore it
Burying your head in the sand will only make the
problem escalate and make you worry for longer. Taking control of the situation
by facing the problem head on will make sleeping at night a lot easier.
Why
oh why?
Take a cold hard look at your financial situation
and ask yourself why you’re in this position. Maybe it’s because you’ve changed
jobs, maybe it’s because the cost of Christmas means you’re paying more credit
card interest or maybe you spend a little too much cash in Starbucks. Whatever
the reason, it’s good to identify the cause so you can work out how to improve
your situation. If it’s a short term issue then a loan (make sure you check the
interest rates) might make things a bit easier. If it’s a long term problem
that’s unlikely to be resolved, you might need to look at ways of cutting back
on other expenses.
Get
your priorities right
Paying your rent is the most important thing you
can do with your money (as well as buying food). Make sure that when you’re
paid you set aside the exact amount you will need to pay your landlord.
Keep
on top of your paperwork
We get it, bills are frightening. But they should
still be opened and dealt with. Also, write down all your income and expenses.
This will give you an idea of where you are spending money, how you can make
changes and how much money you’ll have at the end.
Talk
to your landlord
If you fall behind on your rent payments or you
think you won’t be able to pay the next time, talk to your landlord or to
Outlet. If you’re honest about your situation and your willingness to find a
solution, most landlords will be very reasonable about arranging a payment
plan.
If
things get serious
There are organisations set up specifically to help
you handle money matters and debt. The Citizen’s Advice Bureau has many
resources online as well as people who can give you guidance. Shelter, the
homelessness charity, also provides help to people with housing related
worries. Search online for ‘Shelter money problems’.
Don’t
wait and don’t worry
The quicker you take steps to deal with any
financial problems, the better off you’ll be. Finally, we know it can be a
worrying time, but there will be a solution. Make sure you don’t ignore the
issue and try to talk about it with others who may be able to help.
Remember, the Outlet team is a friendly
bunch and we’re always available to discuss any concerns you might have about
your property and rent. Call us on 0203 740 9894.
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