Rising rent levels across the country are poised to have a substantial impact on tenants' financial obligations, warns StepChange, an influential advocacy group.

According to recent figures published by the Office for National Statistics (ONS), median monthly rents in England have reached an all-time high of £825, underscoring the escalating nature of the situation.

London stands out with an average monthly median rent of £1,500, adding to the mounting financial burden faced by tenants.

In a recent study conducted by StepChange, it was revealed that the number of private renters in problem debt surged from 800,000 individuals (11% of private renters) in January to 1.1 million people (15%) in May.

With the anticipation of further interest rate increases that will impact renters as landlords pass on their mortgage costs, StepChange urges the government to take decisive action in order to shield financially vulnerable tenants from escalating difficulties and hardships stemming from rising rent prices.

Richard Lane, the director of external affairs at StepChange, highlights the immense pressure faced by millions of private renters in maintaining adequate housing. He emphasizes that exorbitant rental prices, combined with rising food and energy expenses, are fueling problem debt, leading over 1 million renters to resort to borrowing to make ends meet.

While acknowledging the government's positive step to ban no-fault evictions through the Renters' Reform Bill, Lane expresses concern that new grounds for possession introduced in the Bill may inadvertently revive similar evictions under a different name. Lane advocates for the Bill to go beyond its current provisions and offer enhanced security and protection for those with low incomes.

There is an urgent need for comprehensive safety nets that cover the true costs of renting, along with strengthened regulations that assist financially vulnerable tenants in managing rent arrears and maintaining their homes, Lane adds.