PROPERTY
e m o c e B ? g 9 n 1 i t d n i e v R o C ll i r e W t f A r e d r Ha
ome s h it ic, w be in. m e d to pan ation t n u e rr sit e cu errible h t to at due this is e l b t trou doub l a i no nc fina here’s n i t s elve ult and s m s e d th as a re n u t o en ef hav their r l l i yw pay Man ble to una
“Many
will
have
found
themselves in financial trouble due to the current pandemic, with some unable to pay their rent as a result and there’s no doubt this is a terrible situation to be in. Director of Benham and Reeves, Marc von Grundherr, commented: Unfortunately, it isn’t the responsibility of UK landlords to take this financial hit on behalf of their tenants and to expect them to continue to is somewhat unfair, considering they have already done so for some months having had no choice in the matter. Those tenants who have found themselves in financial hardship due to the coronavirus have now had time to seek alternative living arrangements without the pressure of eviction. In any other scenario, it’s unlikely they would have been afforded this luxury. It’s also incredibly unfair not to n 18 | Worcestershire Now | Issue 199 | September 2020
consider the landlord in this scenario as many are reliant on rental payments in order to survive and have had no choice but to swallow this loss of income due to the eviction ban.” This eviction ban has been extended by one month, it was due to end on the 23rd August and according to Shelter reasearch nationally near a quarter of a million private renters have fallen into arrears. Of course, there will always be a few unscrupulous landlords wanting to evict their tenants, but the reality is that the vast majority of landlords have been working with their tenants to reach an agreement that suits all parties, in what has been a tough few months for all. In contrast, some landlords have been held to ransom by unsavoury tenants who
have seen an opportunity to play the game knowing they can’t be evicted. Given that some landlords will have already had arrears, the Covid 19 arrears plus the new 6 months it takes to give notice it will mean more landlords calling time on their portfolio. This will see the number of properties available to buy rising in the middle of next year, way to late too late for the new purchaser to take advantage of the ‘lower stamp duty levels’ that close on the 31st March 2021. In Worcestershire our rental stock, other than student housing, is already low so a further fall will see our young people further disadvantaged. n
