Apr
9

Tenants simply not paying rent

According to the National Residential Landlords Association, it seems that during this crisis some renters are presuming they can stop paying their rent without any agreement between them and their landlord.  

While tenant support groups such as The London Renters’ Union are calling on complete suspensions of rent, it is said this could potentially put some landlords in financial difficulty, leading to possible implications further down the line.

Landlords should be flexible if tenants are struggling financially and should offer a three-month rent holiday for those in real need. Landlords may be able to agree a repayment holiday with their mortgage lender too. Only once agreements have been made can a rent or repayment holiday begin and until such time, rent and mortgage payments should be made as usual. 

Ben Beadle, chief executive of the NRLA said "This is not a green light to tenants everywhere to stop paying their rent,"

Meanwhile, homeowners are also being urged not to cancel their mortgage payments unless an agreement had been made with their lender. Bank representative UK Finance said some people have simply cancelled their direct debits, which could result in potential problems remortgaging in the future. 

Read the full article here.