16:38 PM, 23rd March 2020, About 3 years ago
I am concerned that the Government has overlooked Corporate Landlords in its bail out provisions. It has effectively allowed our tenants the discretion to delay paying rents by removing the option of eviction and yet there is very little if any support financially for landlords that are incorporated.
As we are deemed to be Investment companies and not trading companies we can not apply for the Business Interruption loan scheme, as we have commercial loans as opposed to mortgages we can not seek mortgage relief payments, the rates provisions do not benefit us, nor do the VAT reliefs (unless charging VAT on commercial properties) and yet if our businesses fail as a result there could be massive effects on the availability of housing.
Should we be putting pressure on the Treasury to find ways of assisting this sector (eg by including it in the business interruption loan scheme?) I have just had my 1st commercial tenant request a rent delay – their rent is £75k pa.
I Can’t absorb many of those!
Previous ArticleRepairs during Covid-19?