A charity is warning that growing numbers of private tenants are likely to have difficulties keeping up with their financial commitments.

The warning comes as the Office for National Statistics reveals that median monthly rents in England have reached £825, the highest figures since records began. The average monthly median rent in London is now £1,500.

The charity StepChange says this latest rise will have a significant impact on the ability of tenants to keep up with their finances, and it claims that its own research has found that the number of private renters in so-called ‘problem debt’ rose sharply from 800,000 people  in January to 1.1m people in May. 

It says this is the equivalent of rising from 11 per cent of tenants to 15 per cent. 

StepChange is urging the government to take action to protect financially vulnerable tenants from further difficulty and hardship. 

Director of external affairs Richard Lane says: “The pressure millions of private renters are under just to keep a roof over their heads is reaching unsustainable levels. These sky-high rents, alongside soaring food prices and energy bills are fuelling problem debt and forcing more than 1m renters to borrow to make ends meet. 

“With these pressures showing little sign of abating, many renters face a precarious future without targeted intervention. 

“The government’s welcome move to ban no-fault evictions through the Renters’ Reform Bill should help renters feel more secure, but new grounds for possession introduced through the Bill run the risk of no-fault evictions reappearing under a new name. 

“The Bill can and should do more to provide greater security and protect those on low incomes. We urgently need to see safety nets that cover the real cost of renting, alongside strengthened rules to help financially vulnerable tenants deal with rent arrears and stay in their homes.”