22nd November 2021
What Has The Pandemic Taught Us and How Has The Market Changed?
Coronavirus has put us all under tremendous pressure financially, but for many landlords that pressure is amplified with the worry of how to manage if tenants stop paying rent. The new COVID-19 regulations are anything but easy to navigate. Are you eligible for a payment holiday? What happens if a bad tenant decides to take advantage of the situation? What if your letting agent isn’t help you work with your tenants? It’s a mess out there right now, but there is a way through it all. Whether, or not, you’re one of our customers, we’ll help you find a way through this situation. It doesn’t matter if you are contracted in with a letting agent, or managing your own properties, just give us a call, we can help you find a way. We’ve got the low-down on the COVID-19 financial regulations, we’re here to help. No chargeIt’s important that they can prove what their current situation is. Laid off or furloughed? Either way they should have the ability to prove their current circumstances. Perhaps your tenant has been furloughed? If so, he may have a short term cash flow issue, but he will soon receive 80% of his salary. Perhaps you could work out a short term reduction in rent to help them and then figure out a mutually agreeable repayment plan? If they have been laid off, find out what support they are applying for and when it will become available. I recently put together a Frequently Asked Questions section on my site that deals with the most pressing questions surrounding the Coronavirus and how it affects landlords. It covers: As a Landlord do...
Industry pundits are predicting a boom in rental movements, which leads to an uptick in rental income. Are you ready to earn more? If you're coming to the end of your tenancy agreement and you are thinking you might want to increase the rental income on that property, now might be a great opportunity to do that. If you have a property that is currently empty use this time to get it freshened up and enhanced so you can take advantage of market conditions. If the experts are correct, post COVID-19 lockdown will see a dramatic uptick in rental movement. If you need some help organizing contractors to visit your property during the lockdown, contact us and we'll get you rolling. ...
This is the message from the Ministry of Housing, Communities and Local Government as Agents go back to work. So, what should you know as a self-managing Landlord, or to make sure you are being protected by your agent? In a new document issued by the Ministry of Housing, agents and landlords are being told to do the following. "Endeavour to avoid ending tenancies where the tenant wants to, and is able, to stay.” My interpretation of this is, when the ‘non-eviction’ rules finish at the end of June, the Courts will still look unfavourably on any eviction process that is due in full, or part, to the impact of the Corona Virus. “Private landlords and letting agents should not conduct viewings in properties where tenants are symptomatic or self-isolating, or where it has been determined that they are clinically extremely vulnerable and shielding.” So, viewings can proceed only in line with social distancing rules and if the tenants are clear of COVID-19. “Visits to a property must be made in accordance with government guidelines on working from other peoples’ homes and social distancing.” If possible, any necessary repairs should be conducted in the period between a property being vacated and a new tenant moving in. If this is not possible, and visits to an occupied property are necessary, it should be done by appointment, with measures in place to ensure physical contact is minimised. That could mean residents staying in another room during the visit. Letting agents may also want to consider obtaining landlord and tenant consent for inventory clerk appointments to occur during vacant periods (before a tenant moves in, or...
What Has The Pandemic Taught Us and How Has The Market Changed?
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