NRLA welcomes support for PRS

by Property 118

18:00 PM, 18th March 2020
About 5 months ago

NRLA welcomes support for PRS

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NRLA welcomes support for PRS

The NRLA have welcomed government action to support landlords and tenants affected by Coronavirus. In a joint statement, the Residential Landlords Association and the National Landlords Association said:

“Our priority is to ensure that tenants are secure in their homes during this crisis. The three month buy to let mortgage payment holiday will take a lot of pressure off landlords enabling them to be as flexible as possible with tenants facing difficulties with their rent payments.

“No responsible landlord will be considering evicting tenants because of difficulties arising from the current situation. There does need to be some flexibility though such as with dealing with a tenant engaging in anti-social behaviour. This could cause misery for fellow tenants or neighbours especially when they are going to be spending a lot of time together.

“We would like to see further measures taken including pausing the final phase of restricting mortgage interest relief to the basic rate of income tax due in April.

“In addition we need to do all we can to prevent the spread of the Coronavirus. There should be national guidelines for local authorities to suspend routine inspections of properties and a temporary halt on enforcement action where landlords are unable to fulfil certain required obligations because of the health risk posed to them, tenants and contractors.”



Comments

Luke P

18:57 PM, 18th March 2020
About 5 months ago

What happens with empty properties? There’s no tenant to have a Coronavirus-related problem, therefore it could be argued there’s no need for the mortgage break…BUT, if more people are self-isolating/have uncertain incomes, it may not be possible/as quick to rent it when it otherwise would’ve been no problem…

Porky

8:33 AM, 19th March 2020
About 5 months ago

It really annoys me when ever the PRS subject is raised it is always assumed that the landlords property is mortgaged. What about people like me that have put all their worldly savings into buying a property to get a return as a means of a retirement income. Am I expected to take a full hit on no rental income for up yo 3 months. This is not just pin money to me.

Paul Shears

10:44 AM, 19th March 2020
About 5 months ago

Reply to the comment left by Porky at 19/03/2020 - 08:33
Same here.

Luke P

14:31 PM, 19th March 2020
About 5 months ago

Reply to the comment left by Porky at 19/03/2020 - 08:33
I've read that tenants can only defer the equivalent of the mortgage payment amount...

Lesley Clarke

16:38 PM, 19th March 2020
About 5 months ago

I also own outright having used all my savings to invest for my retirement. I have two flats. If tenants can stop paying rent who is going to pay the monthly service and maintenance charge, ground rent and letting agent fees, which currently comes out of the rent?

Porky

23:08 PM, 19th March 2020
About 5 months ago

Reply to the comment left by Luke P at 19/03/2020 - 14:31
Where was that published then?

Luke P

23:30 PM, 19th March 2020
About 5 months ago

Reply to the comment left by Porky at 19/03/2020 - 23:08Too pinned admin post on the long-running, 25k-member-strong ‘The HMO Group’ on Facebook.

https://www.facebook.com/groups/housesofmultipleoccupancy/permalink/3112091682143628/

Porky

1:26 AM, 20th March 2020
About 5 months ago

Reply to the comment left by Luke P at 19/03/2020 - 23:30
Interesting. Almost all tenants will not know how much the landlord has to pay out in monthly mortgage paymemts. It can be from zero to nearly all of the total rent for a particular dwelling. If its the former then it will be down to the Landlord to offer a reduced rent holiday on the expectancy that any reduction is recovered in later months. This will be a risk the landlord will have to take. Who is going to bank roll the landlord if the tenant defaults on payments for up to the 3 months the government is giving before eviction proceedings can begin? I'd better check my insurance?


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