Blogger says tenants with Coronavirus should get 3 months rent free!

by Nick Thompson

9:26 AM, 5th March 2020
About 8 months ago

Blogger says tenants with Coronavirus should get 3 months rent free!

Make Text Bigger
Blogger says tenants with Coronavirus should get 3 months rent free!

Richard Murphy of Tax Research LLP, a Professor of Practice in International Political Economy at City, University of London and regular columnist for AccountingWEB.co.uk, claims Landlords should bear the cost of Coronavirus and provide three months free rent to tenants who contract Covid-19.

Murphy claims: “As a matter of statutory right any tenant should be provided with a minimum three-month rent-free period to ease the stress upon them whilst this crisis last. I would suggest that the grant of that extension should be automatic to anyone who does not make a due payment of rent on the required date during the period of the epidemic. They should be automatically granted this extension by the landlord without having to make any further application or to complete any additional paperwork.”

“I stress that the cost of this will fall directly upon the landlords in question. I am quite deliberately suggesting that they should bear the heaviest burden of dealing with the epidemic. The reason is simple and is that whatever happens they will still have an asset at the end of this period, and no other sector can guarantee that at present. As a consequence they have the greatest capacity to bear this cost. And, if it so happens that some landlords do fail as a consequence, the assets that they have owned will still exist after this failure and so the economy can manage the consequences of this.”

Murphy goes on to suggest that the other group that should carry the burden of Coronavirus is the finance sector, but only by offering a three month extension to loan or mortgage payments and not the total loss he seems to wish upon Landlords.


Share this article

Twitter Facebook LinkedIn

Comments

Paul Shears

11:40 AM, 6th March 2020
About 8 months ago

Reply to the comment left by BB at 06/03/2020 - 11:34
Quite right but the greater problem is what people believe rather than what is. This then changes what is.

Paul Shears

11:43 AM, 6th March 2020
About 8 months ago

Reply to the comment left by Whiteskifreak Surrey at 06/03/2020 - 11:39
Mostly human inability to cope with the affairs of day to day life.

Clint

11:51 AM, 6th March 2020
About 8 months ago

Reply to the comment left by Rob Crawford at 05/03/2020 - 13:57
I fully agree it is the responsibility of the government

Puzzler

12:00 PM, 6th March 2020
About 8 months ago

If rent should be cancelled, does he suggest that supermarkets give away food and groceries as well? It 's the same logic.

Ian Narbeth

12:00 PM, 6th March 2020
About 8 months ago

Murphy's blog is here
I have posted and he instantly responds but his line is that if anyone disagrees with him they must ipso facto be wrong.

Ian Narbeth

12:08 PM, 6th March 2020
About 8 months ago

Murphy's blog is here

I have posted and he instantly responds but his line is that if anyone disagrees with him they must ipso facto be wrong.

Mike

12:20 PM, 6th March 2020
About 8 months ago

The b#st#rd forgot, if anyone really catches the Corona Virus, he /she is dead within weeks not 3 months! so where is the problem? Sure after fumigation a landlord would be able to find a new tenant and obtain all necessary references as well as Corona virus free! (joke)

Actually I think the likes of him should flippin bear the cost of impact to the economy, filthy rich, earning insane rates, most LLP qualified lawyers earn anything of £250 per hour upwards and so should be the first ones to cough up. That is my view.

Turmoil 2

12:24 PM, 6th March 2020
About 8 months ago

I can only suppose that the person involved lives in a rented property and has Coronavirus.
I was also unaware that it affected the brain!

Beaver

12:26 PM, 6th March 2020
About 8 months ago

Reply to the comment left by BB at 06/03/2020 - 11:34
It's not his hat he's talking through...it's coming from somewhere further south... 😉

His comments "....whatever happens they will still have an asset at the end of this period....As a consequence they have the greatest capacity to bear this cost...." are of course total nonsence. Some landlords barely break even some would go bankrupt if pushed into a forced sale at a time of economic stress and what he's proposing is just an asset-grab.

On Covid-19 despite all the panic it's a respiratory virus and it behaves a bit like flu. So things will get a lot better when we all open our doors and windows in the spring, just as flu does.

Tony Hodge

12:51 PM, 6th March 2020
About 8 months ago

Great idea. If I get Coronavirus I will pass this suggestion on to all the banks that I have mortgages and loans with so I can get 3 months interest free!!
Can't see them being that receptive, can you.
Tony

1 2 3 8

Leave Comments

Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.

Forgotten your password?

OR

BECOME A MEMBER

Can I purchase a freehold title AFTER freehold enfranchisement has taken place?

The Landlords Union

Become a Member, it's FREE

Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agents

Learn More