12 out of 13 tenants asked for “Rent-Free Holiday”?

12 out of 13 tenants asked for “Rent-Free Holiday”?

9:10 AM, 14th April 2020, About 2 years ago 72

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I have 13 single tenancies (family homes) in Reading. All houses are rented to Eastern European families. All tenants except 1 (in total 12 tenancies) contacted me in last 2 weeks and refused to pay me. None of tenants in question appear to know each other.

The reason given by all 12 tenants is:

“The government has decided that, Banks must give you holiday for 3 months, in return we must not pay you for 3 months” When I attempted to explain meaning of holiday does not mean complete waiving off rental payment it simply means deferring payment depending on their circumstances, which means they must reach another agreement as to how they will make payment after 3 months in addition I requested proof of their income being impacted. They have all refused to provide any proof when I raised the possibility to taking matter to Court, most of them suggested I will not be able to do this as all Courts are shut and government will not allow this.

This clearly shows that government has caused a huge confusion and all of tenants appear to think regardless of their circumstances this is “Rent-Free Holiday” I am very worried about this as even if my Bank allows me to take payment holiday which they will, nonetheless, Mortgage Company will simply allow Mortgage payment holiday, but will not replace rent.

My main source of Income is property income, which pays for my Tax, Maintenance and my Livelihood. In addition, if these tenants fail to bring their account up-to-date after 3 months then I would have lost £1000’s and would accumulate further Mortgage debt.

Simon



Comments

by Beaver

16:40 PM, 4th May 2020, About A year ago

Reply to the comment left by Marie at 19/04/2020 - 09:07
Interesting bit of news here:

https://www.bbc.co.uk/news/uk-52527135

What it says is that since lock-down anxiety levels have fallen and they are at their highest amongst the 8.6 million people whose income has fallen the most... no big surprise there then. The report says that renters and the self-employed were particularly affected.

The truth is that if someone furloughed you on 80% of your salary that's not a bad deal. As a renter you would be particularly worried if someone took away your job. But it's not your landlord doing it - the person taking away your job at the moment isn't your landlord, or any virus. It's the government.

I was in a bank queue two weeks ago trying to pay in a rare cheque. The queue was quite long and somebody who was dressed as though he collected the bins rather than because he was e.g. a care-worker was giving the lady managing the queue some abuse because he was a "...key worker".

The people who are being furloughed on 80% of their salary are really lucky. So are the "key workers" because nobody took their job away. The majority of landlords are really unlucky because most have a small portfolio of 1-2 properties, that "portfolio" excludes them from other forms of help and the government just eliminated any means of the landlords securing their income.

The people I really feel for aren't the "key workers" it's the self-employed people who tried to start a business and just had their livelihoods destroyed.

I wonder how many millions of people's lives you have to ruin before you generate say an extra mortality in the population of 20-30,000 lives.

by KarenS

14:41 PM, 21st August 2020, About A year ago

Simon,

I operate in the Reading area and maybe able to help you. Please drop me an email at hello@kpcsites.co.uk if you'd like to discuss.

Best Regards

Karen

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