We cannot continue to let Landlords struggle without support

by Nick Thompson

13:24 PM, 24th September 2020
About a month ago

We cannot continue to let Landlords struggle without support

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We cannot continue to let Landlords struggle without support

Responding to the Chancellor’s Winter Economy Plan, Chris Norris, Policy Director for the National Residential Landlords Association, said:

“We welcome the Government’s measures to subsidise wages. We warned that the end of the furlough scheme ran the risk of many households facing further difficulties in paying their rents. Today’s announcement is an important first step to prevent this.

“That said our research still shows that private landlords across England have faced rental loses of up to £437 million as a result of COVID-19.

“It is vital that the Government now follows the example set in Wales and Scotland and develops interest free, government guaranteed hardship loans to help tenants pay off rent arrears built as a result of the pandemic. We cannot expect them, or landlords, the vast majority of whom are individuals without the means to absorb significant losses, to continue to struggle without support.”


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Comments

Art Dobson

16:38 PM, 24th September 2020
About a month ago

I think we need Chuck Norris not Chris Norris's help!
The good old days of a few rental houses being a golden goose are well and truly coming to an end, sad but the winds of change are blowing.

Chris @ Possession Friend

10:10 AM, 25th September 2020
About a month ago

437 Million £ and Landlords won't Fund legal action against the Govt ?
What's it got to take ?

Jay James

11:06 AM, 25th September 2020
About a month ago

Reply to the comment left by Chris @ Possession Friend at 25/09/2020 - 10:10
What does is that 437?

Chris @ Possession Friend

12:44 PM, 25th September 2020
About a month ago

Reply to the comment left by Jay James at 25/09/2020 - 11:06
from the above article, . " private landlords across England have faced rental loses of up to £437 million as a result of COVID-19. "

The Secret Landlord

9:16 AM, 26th September 2020
About 4 weeks ago

I think they are trying to remind people that most landlords are little people who have jobs and money worries too.

TrevL

11:04 AM, 26th September 2020
About 4 weeks ago

Reply to the comment left by at 24/09/2020 - 16:38
Afraid I agree, for too long now the BTL sector as a whole has relied on heavy gearing to function and has done so based on a long period of economic stability....this pandemic and other so called 'black swans' (hate the term) do happen and it's becoming clear the government won't/can't bail out a leaveraged sector that is perceived by the rest of society as exploiting renters..... irrespective of whether that's a true or false perception.

Chris @ Possession Friend

12:19 PM, 26th September 2020
About 4 weeks ago

Reply to the comment left by TrevL at 26/09/2020 - 11:04
Its not bailing out ANYONE ?
The choices seem simple, keep the existing Civil law process that landlords knew when they entered into the tenancy agreement, Or, else pay the Tenants rent if felt genuinely Covid-Related.
What isn't acceptable, is manipulating the Civil Justice [sic] process so that private landlords have to shoulder the financial - rent burden instead of the welfate state ( i.e - Government )

moneymanager

13:08 PM, 26th September 2020
About 4 weeks ago

That £437 million though is just a drop in the ocean,. Before Christmas I was fully let with good longterm prospective stability, I lost one in March as a direct COVID redundancy consequence and very nearly lost all my ME students, with one new let I am at 60% but that will drop to 40% in November and both the student and professional markets are flatter than pancakes. On top of that we can't sell either as Robert Jenricks "Department for Buggering Things UP" and it's totally inept EWS1 programme means we cant sell either and we haven't got a single square inch of flammable pannelling and aren't retro clad either and the March 31st timescale is tighther than the proverbial duck, even if we don't miss there will be hundreds if not thousands that will; in fact the whole things is such a monumental cock up it couldn't be better if it was planned.

TrevL

13:26 PM, 26th September 2020
About 4 weeks ago

Reply to the comment left by Chris @ Possession Friend at 26/09/2020 - 12:19
Hi Chris, appritiate your point of view, and being a landlord I empathise with it, but the legal frameowkr for landlords and tenants is completely disconnected from the economic and political reality brought about by covid19. I imagine you will need a socialist orientated government, willing to go even further that Sunaks work with furlough schemes etc....and that's gonna take time.....as somebody said, possibly on here, you can't stop parts of a train, without some wreckage, and in our debt based economy, that's exactly what has happened.....no law can protect you from that.

moneymanager

0:14 AM, 27th September 2020
About 4 weeks ago

Reply to the comment left by TrevL at 26/09/2020 - 13:26
"no law", no law was SUPPOSED to protect you from it, debt has been weaponised if you have it and weaponised as you are forced to adobt more.

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