You may be aware of the current lobbying efforts by the Tenants Union to implement rent suspensions for renters and for repossession proceedings to start from scratch as it warns of an “eviction boom” once the coronavirus crisis is over.
The group has launched a petition calling for further measures to protect renters, which has over 100,000 signatures so far. The Government has said that landlords and tenants should agree repayment plans but have not legislated for this and have given renters no security on this.
Additionally, the Government is being urged to fulfil its commitment to scrap Section 21 notices and to do so immediately to avoid an eviction boom at the end of the emergency period.
The petition also suggests the buy-to-let mortgage holiday for landlords should go hand-in-hand with a rent suspension.
Belvoir roll out rent guarantee for entire portfolio
We all know that it is a very uncertain time, and in response to this, we took the decision to roll out the Belvoir Rent Guarantee scheme across the entire portfolio, adding another level of protection to your property investment – and instilling reassurance for our Landlords, who have received our cover since the 1st March and will be protected up until the 1st June for no charge at all.
Our obligation to you is that in the event that there are any defaults in the payment of the rent – where a tenant can’t or won't pay, we will pay rent monthly to you, the landlord, as per the rent amount on the tenancy agreement.
This means that our Landlords can have peace of mind, as they will receive their monthly payments regardless of whether the tenant is able to pay. This is such a huge benefit to our landlords, as in the current climate obtaining cover from a third party is like getting a quote for car insurance after you have hit the vehicle in front! Some companies are even refusing to offer cover and possibly understandably so!
Video Tours
According to Zoopla, online viewing activity is starting to surge as millions of stay-at-home workers make use of the extra time at their disposal by browsing property portals, in the same way that they do in the days after Christmas.
As it stands, we are deprived of being able to conduct in-person viewings on available properties, however, our quick thinking and ability to produce video tours is enabling us to still let available properties whilst the market is restricted. We have also been able to engineer completely contactless move-in procedures not only to protect our staff but also to assist those persons who are/were already committed to move due to a whole host of reasons.
A Return to Assured Shorthold Tenancies
As the hotel and serviced accommodation markets are receiving very little interest at present, we are seeing a return to assured shorthold tenancies, as this has always provided a dependable income stream and with the recent increase in rental values, the disparity in potential income is actually closer than ever before.
Fortune favours the brave and we are seeing some really keen property sales through our auction partners, SDL so there are some new bargains to add to the mix for those interested in investing further…
And finally..
Our Aid boxes seemed to go down well with those tenants that we were able to support with toiletries and essentials as a good will gesture from the agency before the lockdown took full effect.
We continue to do all we can for our Landlords and Tenants amid the crisis and appreciate the positive feedback we have received from both parties.
