Corona Tennant rent holiday

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    Corona Tennant rent holiday

    I have a Tennant who has just asked for a rent holiday due to corona virus. They are still working and have a nice big BMW that I know cost them over £400 pm. I'm personally self employed and had an accident 7 months ago, I've just started to walk again and this mortgage money kept my head above water. How is it they can Swan around in her fancy car and not pay me for 3 months. Is this right. Thanks in advance.

    #2
    You have no obligation to change their rent -

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      #3
      Originally posted by Snorkerz View Post
      You have no obligation to change their rent -
      Or you could negotiate.

      E.g I'll let you defer rent payment if you let me smoke around in your nice big BMW until it is paid back.

      (Nice to see you back Snorkerz)

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        #4
        Originally posted by boletus View Post

        Or you could negotiate.
        Which is probably the best option, BUT, you don't have to. He agreed £x per month, he pays £x per month (unless your TA says £x per month except in case of national emergency)

        (Nice to see you back Snorkerz)
        Ta, amazing what you will do when self isolating

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          #5
          Say he can have a rent holiday in 6 months, after the s21 & possession order kick in.

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            #6
            You have no obligation to offer a rent holiday.

            If you want to consider it, the key question is how quickly they could pay for the holiday after the three months and how much interest they could afford on that deferred rent (your tenancy agreement may have this in it).

            Most people would find paying twice the rent for three months impossible, but even 1.5 x the rent for six months would stretch most people.
            And if they can afford that in three months, what means that they can't pay the rent now?
            When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
            Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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              #7
              I think some tenants believe that a rent holiday is the same as no rent for 3 months. Ensure he understands that all the rent will need to be paid eventually and discuss what he thinks he can pay now and the impact that will have on the future rent payments.

              If he is trying to pull a fast one once he realises the rent is delayed not written off he may change his tune. On the other hand there may be a genuine reason that you are unaware of that means he needs a rent holiday.

              The actions we all take now will colour our future relationships so make sure you deal with everyone fairly during this difficult time,

              Good luck

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