Parents and pet owners hit with extra fees

Parents and pet owners are forking out £460 more on their rent and bills compared to other tenants.

New research by Confused.com reveals, one in three renters (33%) share their homes with pets, while nearly three in ten (29%) have children.

According to the survey, parents are the ones taking the biggest financial hit. They’ve had to pay an average of £286 for deposits, compared to £236 for pet owners.

Majority of renters feeling the squeeze

According to the data, the majority of renters are feeling the squeeze, with monthly rent averaging around £586.

More than 75% of renters admit this has gone up by £77 in the past year alone, a 15% surge, which is more than the inflation rate (9%) over the same period.

On top of rental costs, ‘essential’ bills, such as electricity and council tax are costing renters around £352, on average, each month.

For other additional expenses such as service charges and cleaning fees, renters pay around £129 in total each month. However, through the research, the data revealed that, on average, the majority (75%) of renters didn’t pay for these at all.

According to the survey, more than half (54%) of renters believe that the Renters Reform Bill will protect tenants. The bill, currently slated for England, could mean landlords can not reasonably refuse tenants with pets, children, or those on benefits.

Difficult and costly time

Home and lifestyle expert, Matthew Harwood at Confused.com home insurance, said: “Our latest data shows how renters with pets or children may be paying more than others – which could seem very unfair. But potential new rules for landlords could mean that this changes in the near future.

“With the introduction of the Renters’ Reform Bill soon in England, both landlords and tenants should have greater clarity on their living arrangements and financial commitments.”

He added: “And although this doesn’t exist elsewhere in the UK just yet, it doesn’t mean similar rules won’t apply down the line.

“The changes should mean that some tenants won’t be financially penalised, leaving them with some additional income during a difficult and costly time.”

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