Tenants not willing to pay once back to normal

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  • Rickster1978
    replied
    We’ve agreed to reduce our tenants rent by 20% whilst he is furloughed. We won’t be increasing it back above 100% afterwards. Don’t forget that the 80% furloughed allowance does have a cap of £2500 so it could well be below 80% of their wage for some people.

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  • pebblepebble
    replied
    Originally posted by JK0 View Post

    Then all the more reason to issue a precautionary s21 notice now, isn't it?
    Yes you're right. It will be interesting to see what the tenant comes back with and the agent should have really suggested a s21. He has had a lot of similar emails but some tenants are more proactive than others. Mine appears to come in the others category.

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  • JK0
    replied
    pebblepebble,

    Then all the more reason to issue a precautionary s21 notice now, isn't it?

    Leave a comment:


  • pebblepebble
    replied
    OP I feel for you, I have a similar situation. My rent was due today then agent told me had had received an email from the tenant saying he couldn't afford to pay. It was a bit difficult to understand as English isn't his first language but ended up with him saying he was prepared to represent himself in court (which immediately put my back up). They have been paying regularly for five years and I did expect this and am prepared to work with them. However as a self employed person he will be getting some help in the next few months so I have suggested initially he has a payment holiday. We'll see what he comes back with - I suspect from the rest of the letter he doesn't expect to pay and will sit there until forced out. And I am suspicious that a lot of work was cash, if that it the case he won't get much help financially. This rent is my main source of income at the moment - should have sold when I was made redundant last year but I thought I would leave it until they left - hindsight is a wonderful thing.

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  • mariner
    replied
    Inform T you are prepared to accept 80% rent for 3 months, without fear of legal recovery, but after 3 months the rent will retturn to stated

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  • Stew
    replied
    Section20z,

    Superb adapting in the situation and also helping deliver groceries for those who are staying in.... there are often opportunities for those that want them... good for him

    Leave a comment:


  • Section20z
    replied
    It can only be a defferal or you are devaluing your product and the whole market - but how forcefully you insist on it being repaid may be down to how wealthy and generous you are yourself.
    Don't forget you presumably have one month deposit so a furloughed tenant on 80% could pay 80% rent for 5 months and still have the arrears covered by the deposit !
    One of my sons is furloughed on 80% and taken a mortgage holiday and started delivering groceries for ASDA so he is now better off..... though I know many are struggling......

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  • Logical.Lean
    replied
    Originally posted by Manager View Post

    But you must have burnt more electricity gas than before.
    We own blankets and then the sun came out.

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  • The Secret Landlord
    replied
    I agree with Stew, during this period this is an ideal time to save money. There is nowhere to go and nothing to do.

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  • Hudson01
    replied
    Originally posted by Logical.Lean View Post
    They can afford to pay 100% of the rent but dont realise it.
    I suspect you may be over generous on this one, i think a lot of the tenants know exactly what they are doing, the post by '' Stew ' about paying 80% of the rent if they get the same amount of pay is totally right, and as said we have all noticed how our daily/weekly spend has dropped, there are a lot of chancers out there at the moment, if my tenants said what yours have said it would be remembered and they would certainly be evicted after all this is over, i agree we need to be kind but that goes both ways, at the moment i am not so sure this is the case.

    Leave a comment:


  • Manager
    replied
    Originally posted by Logical.Lean View Post


    I'm.working from home, and i reckon ive saved £70 a week.on fuel, £20 a week on lunches, and £50 a week.on not eating out. Plus other stuff. I reckon I'm saving £600 a month.
    my point?
    %
    But you must have burnt more electricity gas than before.

    Leave a comment:


  • Logical.Lean
    replied
    Originally posted by jpkeates View Post
    I think you need to explain that you are therefore not happy to accept only half the rent then (assuming that's the case).

    Most people won't be able to pay more rent than they do per month currently (and will resent the hell out of their landlord for expecting it).
    To be honest, your tenant is pretty sensible to point this out.

    Maybe live with 80% of the rent, as a genuine reduction not a payment holiday.
    If I was paid 80% of my pay, but didn't travel to.work and couldn't go out I would have more money left at the end of the month than normal.
    I'm.working from home, and i reckon ive saved £70 a week.on fuel, £20 a week on lunches, and £50 a week.on not eating out. Plus other stuff. I reckon I'm saving £600 a month.
    my point?
    They can afford to pay 100% of the rent but dont realise it. Offering to reduce rent to 80% would be a fair compromise. When it's all over put the rent up.to 110% after 3 months at 100%

    Leave a comment:


  • tomwarren
    replied
    One other important question: does the tenant have the option to leave in the near future? What if you play hardball, and the tenant gives notice? If the tenant has a renewal date coming up, or a break clause, would it not be easy for them to strike a deal with someone who has an empty property?

    If they do leave, how long do you think it would take to replace them in this market?

    Leave a comment:


  • Pearl1
    replied
    jpkeates,

    Do you think any government will allow a tenant to be evicted during these times?
    Even a year down the line, if a tenants is unable to pay full rent, I believe the law will be on their side in this situation.

    Leave a comment:


  • Pearl1
    replied
    jpucng62,

    That is the stance I’m happy to take.
    Im there to help always have been, but don’t really like the way they’ve stated the additional outstanding rent won’t get paid.

    Good Luck all

    Leave a comment:

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