Corona Virus - advice required for Landlord : residential properties

[landlordray]

As anticipated, I have had my first enquiry from one of my Tenants

She is a single ( working ) mother with 2 young children. She is concerned that IF schools close then she will need to take time off work to look after them.
Her employers have told her that in this instance she will NOT be paid for her absence.
She has asked for my advice....

I am happy to support all of my tenants if I can and am prepared to postpone/delay rent payments to help out.

Is there a template letter, or any advice I can give to my tenants ?

If the Media expect landlords to waive or delay rent payments from tenants, Will there be any help for Landlords from the Government
( or any where else ) due to cashflow problems in view of the lack of rental income ?????

In my case I do not have any Mortgages on any of my properties, so I obviously will not qualify for any help from them.



many thanks in advance

[jpkeates]

She should qualify for universal credit (which is likely to collapse under the strain when this happens).

The chancellor is meant to be giving some more details of support available later today.

[landlordray]

Many thanks for your speedy reply,

I will see what details the chancellor gives out today...

[jpkeates]

As a single parent, she is likely to be receiving some benefits already.

[landlordray]

I agree, she may be receiving some benefits already, however, her main concern is that her employer will not pay her for taking time off work to look after her two children.

[DPT57]

The RLA are recommending landlords be lenient and allow tenants to delay payment if they're affected by the virus. I think this is largely to present the voice of reason to counteract the calls for all tenants affected to be given a 3 month rent holiday.

I can see that schools closing for an extended period is likely to cause a problem, but what was this tenant planning to do during the Summer holidays with the children are off school?

[landlordray]

I agree with your comment regarding the children's summer holidays.

This tenant has been in this property for over 4 years without any problems so she has coped perfectly well in the past.

Not sure if is she is just overreacting or trying to have a few months rent free......

I have advised her that I am happy to put a ' rent holiday' in place and agree a plan to repay the 'holiday' rent at a later date.

I have been unable to find any help that would be available to Landlords should they start to struggle due to the lack of rental income during these 'rent holiday' periods

[jpkeates]

There's a difference between normal holidays and these corvid 19 days.

Grandparents are mostly out of the question for childminding.
Other relations will be isolating.

Kids clubs aren't going to be available.
Can't go swimming/cinema/out generally.

People won't be able to look after each other's children.

I don't think people have appreciated the scale of the problem for parents.

[landlordray]

Thanks for that, it is something will need to take into account with all tenants

[royw]

I think it depends on her circumstances and yours. If she's a good tenant but has littlle spare cash so no realistic hope of paying it back soon personally i would reduce the rent temporarily, assuming you can afford it and the government won't step in. I think many of us will be tightening our belts for a while. Let's hope she still has a job at the end of it.

[landlordray]

She is a good tenant so I am happy to work with her.

Just have to wait and see what the future brings ...........

[boletus]

She is a good tenant so I am happy to work with her.

Emphasis being on 'work with'. It's not a one-way street.
First of all I'd want to know what her alternative plan is for paying the rent. Savings, parents, guarantor, children's father, UC, DHP, low interest loans and such.
Only then would I look at what she can afford to pay and a repayment plan.
I'd also consider using the deposit as a later resort.

[landlordray]

Agree that this is not a one way street. However, we are all now in an unprecedented situation. I would rather show compassion to my tenants in the first instance, rather than appear heavy handed and demand evidence of their income, savings and details of any loans they had or would be able to take out, to pay the rent. A repayment plan could always be amended at a later stage to ensure things got back on track as soon as possible.

[boletus]

There will come a time and a place for compassion.

But it's not yet and certainly not for a tenant probably fishing to see how compassionate you might be in letting them off paying the rent.

She has asked for my advice....

Really.

[Extremely Stressed]

I agree with bolteus.

My tenant has already conacted me, fishing my compassionate levels. I wouldn't mind usually but she isn't ill and is still at work. I fear tenants are going to try it on even if they are not contaminated.

Annoys me how everyone thinks it is ok for the landlord.

Who is going to pay our bills with no rent coming in from the houses we worked our arses off to get?

If something is going to be in place to protect tenants during these hard times, which is great, then please level the playing field and protect us landlords too. We worked hard to get these houses and also have bills to pay. Sorry for the rant but been reading different reports all day and I haven't seen one mention of how us landlords are protected.