COVID-19: Protection for Landlords and Tenants
Landlords and tenants can be reassured that they will be protected during this unprecedented time of social distancing.
Boris Johnson has announced that private tenants will be protected from eviction for three months if they are unable to pay their rent in teh event that they become ill or have to self-isolate, and lose pay as a consequence. Also, landlords are to be promised mortgage 'holidays' if they find themselves in a situtation where their tenants are unable to pay their monthly rental payments.
The Prime Minister has said that the government will bring forward emergency legislation to protect private renters from eviction, which cam eafter Chancellor Rishi Sunak announced £350bn of help for companies; £330bn in loans and £20bn in other aid.
In addition, Kate Henderson of the National Housing Federation, which represents housing associations in England, has confirmed that housing associations will not evict tenants who are affected by teh virus and fall behind on rent payments.
For landlords who find themselves in this situation it is important that they contact their lender as quickly as possible to discuss the options available to them.
Here at Dorset Property, we are keeping a close eye on the developments within our industry surrounding the Coronavirus outbreak and will update you further as events unfold.
Added: 20th March 2020