Over 5.2 Million Households Are Behind on Rent. Here's What to do If You Can't Make Rent This Month

If it's a situation you've landed in, you're far from alone.

These days, many tenants are struggling to cover their rental costs -- and their bills in general -- due to soaring inflation. And unfortunately, a lot of people don't have savings to fall back on after having depleted their personal cash reserves to get through the pandemic.

But you may be shocked to learn that more than 5.2 million U.S. households are currently behind on their rent, according to data by the National Equity Atlas. And all told, tenants owe their landlords almost $11 billion. As a result, millions of renters are now at risk of eviction.

If money has gotten tight for you, you may be reaching the point where you don't think you'll be able to pay your rent this month. If that's the case, it's imperative you don’t ignore the problem, but rather, reach out to your landlord immediately.

It's important to communicate

If you're pretty certain you won't be able to come up with this month's rent, the most important thing to do is talk to your landlord about that. If you're a tenant in good standing who's been timely with all other payments to date, your landlord might cut you some slack until your financial circumstances improve.

This doesn't mean you should expect to be let off the hook completely. Remember, your landlord has a mortgage to pay and may be reliant on your rent to cover their payments. But one thing your landlord might do is give you extra time to pay, or reduce your rent temporarily with the understanding that you'll pay your rent in full at a later point in time.

For example, let's say your hours just got cut at work, and so your wages have followed suit. If you can't pay your $900 monthly rent by April 1, but you're able to come up with $500 by then, your landlord might agree to accept that for now with the understanding that you'll pay the missing $400 by May 1 or June 1.

Understand your options and rights

Many tenants struggled to pay rent in the wake of the pandemic. At this point, the rental assistance programs that popped up to provide pandemic relief are largely over, or aren't accepting applicants. But you never know what program your state might be running, so consult this list of rental assistance resources to see if there's an option available to you.

It's also important that you understand your rights as a tenant and how the eviction process works. Your landlord has to give you fair warning about an eviction, and there are protocols to follow. If you're being threatened with eviction, you may want to contact an attorney for guidance. LawHelp.org could be a good resource for low- or no-cost assistance.

It's not all that surprising to learn that a large number of Americans are behind on rent. But that 5.2 million number is pretty staggering. Just know that if you're struggling to pay your rent, there are options at your disposal that don't automatically mean losing your home.