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Landlord\'s are you feeling overwhelmed?

Landlord\'s are you feeling overwhelmed?

Here's some sensible advice for you!

The only thing that seems certain during this period is the uncertainty we're all experiencing, and for landlords and tenants this a particularly anxious time.

The Guild of Letting and Management published eight points to consider around the paying and collection of rent.

Although we understand that everyone’s situation may be different, this general advice is worthy to take note of.

The steps are:

1. Ensure the tenant is aware that rent is still due.

2. If the tenant is having trouble, guide them to the Department of Work & Pensions website where they can obtain the guidance they require regarding pay, statutory sick pay (SSP) and other relevant up to date information.

3. Ask tenants to put their concerns to you in writing. It is vital you can discuss the matter with all the relevant facts to hand.

4. Speak to your mortgage lender and find out what they are putting in place. Some landlords have already offered tenants a discount on rent or a "rent holiday". But remember, that as with the mortgage lenders, this deferred rent will have to be paid back in the future.

5. If the tenant has a guarantor, speak with them as they should not be left out of any discussions regarding the rent payments.

6. As a landlord, check whether your insurer can offer rent and legal protection.

7. Keep your records up to date. Every conversation over the phone, email, must be logged and documented.

8. Any pre-existing arrears (pre-18th March 2020) cannot be factored into this Coronavirus situation. Remember everyone is in the same boat. No one has experienced this before, this is not the same as the 2008 recession and is a public health matter, so it is difficult for all involved on so many levels.

We recognise that this is a fast-moving situation, and we appreciate due to the uncertainty you may have more questions.

If you are unsure, or have any further questions, contact your letting agent or feel free to contact us if you are unsure about what to do next.

You can reach us on 01724 487297 or email info@jc-property.co.uk

We are open for business and here to help any landlords, tenants and community.

For the latest updates and advice from the Government visit: https://www.gov.uk/coronavirus

Stay Home – Protect the NHS – Save Lives

Thanks Jon

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