Rent arrears are priority debts. If you have rent arrears on a property you live in, it's important to contact the landlord or letting agency quickly to offer a way to repay what you owe. If you don't do this, you're at risk of eviction.
Then, what does it mean to pay rent in arrears?
Arrears (or arrearage) is a legal term for the part of a debt that is overdue after missing one or more required payments. For instance, rent is usually paid in advance, but mortgages in arrear (the interest for the period is due at the end of the period). Employees' salaries are usually paid in arrear.
One may also ask, what does being in arrears mean?
Arrears is a financial and legal term that refers to the status of payments in relation to their due dates. If one or more payments have been missed where regular payments are contractually required, such as mortgage or rent payments and utility or telephone bills, the account is in arrears.
What happens if you do not pay rent?
If you don't pay everything that you owe by the deadline, your landlord can apply to the Landlord and Tenant Board to evict you. Your landlord could also report your overdue rent to a credit reporting agency. This can affect your credit rating and make it harder in the future for you to rent a place or get a loan.
Is there any help with rent arrears?
Housing and Urban Development helps those in need pay their rent as well as security deposits. There are also vouchers available from HUD that can help the disabled as well as senior citizens pay any rental arrears they may have. Other housing costs such as energy bills may be paid for as well.