Steve Masters

Registered with Property118.com
Tuesday 6th August 2013

Insures properties through a broker recommended by Property118
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Latest Comments

Total Number of Property118 Comments: 220

Steve Masters

20:20 PM, 30th March 2020
About A week ago

Full Government COVID-19 guidance for landlords and tenants published

"1.1 As a tenant, should I stop paying rent during the outbreak?
•Tenants should continue to pay rent and abide by all other terms of their tenancy agreement to the best of their ability. The government has a strong package of financial support available to tenants, and where they can pay the rent as normal, they should do. Tenants who are unable to do so should speak to their landlord at the earliest opportunity."
...to the best of their ability...
This means that a tenant should explore all avenues to try and raise funds to pay their rent, they should speak to their bank and other credit providers, talk to family and friends and be creative.
It doesn't mean they can just stop paying their rent if their income drops.
Their landlord should be their "Lender of LAST Resort" NOT their "Lender of FIRST Resort".
Landlords are not geared up to offer credit. Banks are.

If my tenants can demonstrate to me they have exhausted all options but can't raise the money, then I will be sympathetic and work with them to find a solution. I'm not heartless. But I don't have bottomless pockets either.... Read More

Steve Masters

13:29 PM, 28th March 2020
About 2 weeks ago

Temporary solution to rent payment issues following Covid-19 advice

What happens if the tenant were to dispute the payment at a later date saying they never received the goods/services? Could PayPal claw back or freeze payments until landlord produced proof of delivery?

If so, what form would proof of delivery take?... Read More

Steve Masters

12:31 PM, 21st March 2020
About 3 weeks ago

Student wants to abandon tenancy agreement unilaterally?

How about this? Offer to advertise the room at say 80% rent with the leaver topping up the other 20%. Open to negotiation.
At least you are trying!... Read More

Steve Masters

12:11 PM, 21st March 2020
About 3 weeks ago

Student wants to abandon tenancy agreement unilaterally?

Let her go. Remind her of her contractual obligations but say you will work with her to work something out. See what happens next week.
Perhaps offer to accept 80%, but accept less. Say without agreed payment terms you will eventually go to court for 100% including costs and resulting in a CCJ.
We are all in this together.

And offer to limit her liability up until you or she finds her replacement, which we know almost definitely isn't going to happen however hard you try.... Read More

Steve Masters

10:19 AM, 18th March 2020
About 3 weeks ago

He's absolutely crackers!

Government advice is to not go to the pub, consequently pub landlords are having to close because they have no income. If government advice was that pubs must stay open and offer free beer, the consequence would be that pub landlords would go out of business very rapidly.

This is what property landlords would face if ill thought through rent holidays are proposed.... Read More