Right now, people are looking for as much guidance and support as possible. It is fair to say many landlords have faced challenging times of late, but 2020 might be the year that even the most experienced landlords call for help. If you are looking for assistance, we are here for you.         

Of course, while landlords are looking for guidance, tenants are looking to them for support and guidance. We know many landlords will be under considerable pressure and stress right now, which is why we are keen to point you in the right direction. The Government has provided guidance for landlords, and we have some of these tips for you.    

Should landlords stop charging rent during the outbreak?        

It is fair to say many people are struggling financially right now. Some tenants will have spoken with their landlord about rent, and being unable to afford their rental payment. With mortgage holidays in the news, it is likely many landlords and tenants have considered this issue.             

It is important to know landlords are under no obligation to provide a rental holiday. Worryingly, the NRLA believes many tenants have decided to not pay rent, or to take an unauthorised payment holiday. This might lead to more problems in the future.

Ben Beadle, NRLA chief executive, says: “The mortgage repayment holiday is only available for landlords who are struggling to make their payments because their tenants are unable to pay part or all of their rent as a direct result of the coronavirus and through no fault of their own. It is not an automatic payment holiday and landlords who successfully apply still have to make these payments later on. It is not a grant.”

Ben continued by saying; “What it does allow is that where a tenant is having genuine difficulty in meeting their rent payment because of a loss of income, landlords have much greater flexibility to agree a mutually acceptable plan with the tenant to defer the rent due.”             

Landlords should be proactive at this time

There is no one size fits all solution for the rental market. Landlords and tenants should consider their options together, and come to a solution that fits everyone. If a tenant needs help, they should ask for it, but landlords should be proactive.

Landlords and tenants should be aware of rights brought in to support tenants:

• 18^th March – Legislation introduced which prevents tenants from being evicted during the COVID-19 outbreak
• 26^th March – Legislation introduced which suspends all evictions in the court system

The ban is in place for virtually all tenants, not lodgers, and no one will face eviction for a three-month period. Landlords are not able to initiate court proceedings until after this period ends.

As an experienced letting agent serving the Bridgwater community, and many of the surrounding areas, we are here to help. We promise to stay in touch with the latest technology, helping our clients to achieve more, and we aim to support the local community as best we can. If there is anything, we can assist you with; please contact Andrew Lees Lettings today.