Definition of rental arrears
- Rental arrears refer to missed rental payments by tenants
- It can lead to financial difficulties for landlords
- Tenants are typically considered in arrears after missing a certain number of payments
- Arrears can result in legal actions such as eviction
Causes of rental arrears
- Job loss or reduction in income
- Unexpected expenses or emergencies
- Mismanagement of finances
- Disputes with landlords over maintenance or property conditions
Impacts of rental arrears
- Strained landlord-tenant relationships
- Legal consequences such as eviction
- Damage to tenant’s credit score
- Financial loss for landlords
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