Advice for Landlords and Tenants - Coronavirus Outbreak

On 23 March 2020 the UK went into a virtual lockdown due to the Coronavirus outbreak. As a result, essential maintenance works on rental properties may still go ahead but property sales (except those almost near completion) and viewings may well be affected for the time being. Check the government website for current information

Communicate with Landlords,Tenants and Mortgage Lenders

These unprecedented events turned life upside for all of us with immediate adverse health and financial concerns affecting the majority. The resulting panic, whilst very natural, must be tamed as it is critical that we stay calm and focus. Maintaining close communication with family members, friends and business connections is, of course, key to getting through this difficult time. From the human perspective this is very much a given. However, to reduce the adverse impact on our finances we must also communicate with those that we do regular business with. Banks and building societies must be kept informed of financial difficulties with regard to mortgages and the same consideration must also be applied to landlords, agents and tenants. This is a turbulent and worrying time for everyone including landlords and tenants alike. This guidance will hopefully help serve as a useful reference to both landlords and tenants throughout the UK.
 

How Landlords Can Help Themselves and Their Tenants

• Please contact your tenants and ask them if they need help.
• Discuss any financial concerns with your tenants. In particular, they will be worried how they can pay their rent and you will, of course, have your own financial concerns.
• Where appropriate, ask employed tenants for supporting evidence that their employment has ceased and their income has declined (ie proof of furlough or termination of contracts).
• Discuss with your tenants how you can help alleviate their immediate problems.
• Discuss how maintenance issues can be dealt with.
• Ask your tenants to check whether they have had any symptoms and refer them to the Government website links for up to date information.
• Remember any new procedures must be written down and sent to your tenants. Ask them to keep these safe so they may refer to them as needed.

How Tenants Can Help Themselves and Their Landlords

• Please remember Landlords have bills to pay just like you. Their rental income could well be a large part of their primary income to pay those bills.
• Discuss any financial concerns with your landlord.
• Bear in mind that the term “rental holiday” is unclear and can mislead. A rental holiday does not mean you do not have to pay. It means that rental payments are deferred to a later date. You will have to catch up with your rental payments as soon as practicable.
• Please seek advice so that you can claim all the help you qualify for: 
• The government have launched schemes for the employed and self-employed which should help most people.
• For those that fall through the cracks please contact Universal Credit.
• Other opportunties for help may also be found throughTax Credit, Council Tax reduction and mortgage holidays.

Please remember to support the NHS workers who are risking their own lives on a daily basis to help us. Stay safe all and be kind to everyone.  We are very much #allinthistogether

Sheridan Sales and Lettings are happy to offer free advice to any tenant or landlord during the Coronavirus outbreak.  If you would like to learn more please do give us a  01366 858228 email us on sales@sheridanestateagents.co.uk