Now, more than ever, we need to look after each other. We can all do something, no matter how small, to contribute to a kinder society.
It’s why, as a landlord of a family-sized property in Lancashire, I have given my tenant a five month rent break.
I’ve owned the house since 2015, and although he’s only been in the property for 18 months, he’s always taken great care of my biggest asset.
Being self-employed with four young children, he’s already struggling financially, even at this early stage of the coronavirus outbreak. He’s behind on rent for the first time.
So I’ve decided to give him a break – and he’ll never have to pay it back to me.
Not because I am wealthy and can afford it. In fact, I am also self-employed and all my work has been cancelled.
I did it because it is the right thing to do. I have savings I can get by on and making a profit on a property at the minute simply feels like the wrong thing to be doing.
Read the latest updates: Coronavirus news live
Millions of people are facing uncertainty and I couldn’t sleep, worrying about my tenant’s ability to pay rent, having to chase it and potentially having to evict a family. None of it sat well with me.
I had hoped there would be some government advice on what to do in a situation like this, but there is a clear lack of guidelines for both tenants and landlords alike.
While landlords will be prevented from evicting tenants without three months’ notice, and are being given mortgage ‘holidays’, renters themselves are still being encouraged to pay rent.
Tenants and landlords need a joined up strategy that is robust and fair for all. I’m not an expert, but I believe there must be some way to develop a more cohesive plan.
I could only imagine the pressure my tenant was under and the worry he must have been feeling.
For me, if he can feed his children and pay his utility bills, then that is just fine for right now.
When I arrived at the property to let him know, I was nervous because I don’t usually interact with my tenant directly as the house is managed by a letting agent.
I knocked on the door, stood two metres back and had a conversation face to face. When I told him my plans he was shocked, but mainly relieved. He asked if I was sure and simply thanked me, which was more than enough.
I walked away knowing I had made a difference and it felt great. This plan gave me and him some clarity at a time when there is little.
I’ve been asked whether I think other landlords should follow my example, but I don’t think it’s as simple as that. I do believe that all landlords should do what they can to ease the burden on their tenants. We should not be making a profit right now.
Making contact with tenants is the best place to start. If you can reduce payments, do it. Your tenants will be grateful.
I tweeted about the experience and the response has been amazing. Landlords from all over the world have sent me messages saying that my post had made them wanted to do something similar. They even sent me screenshots of conversations they had with their tenants.
Initially, I wasn’t too comfortable with the online attention, but seeing that it had a positive impact globally means I can’t help but feel like I have done something good.
One year of not making as much money when you are in a privileged position to own two properties isn’t significant in light of the current global situation.
I’ve been responsible with the money I’ve made off my property in the past and I will be using it to cover the costs of the next five months.
I could take the mortgage holiday on offer but I won’t. Simply put, I don’t trust the banks not to use it against me in the future credit scores and mortgage applications.
While I can appreciate the huge task Boris Johnson has been given here, I do feel that a roof over your head is one of the few things that we cannot live without.
More direction, support and guidance is needed. Beyond that we need action.
Policies and support tools being announced are all well and good but if they take weeks to come to fruition, this will be too late for millions.
I am currently self-isolating with my wife; I have asthma so that is playing on my mind as a worry.
Like many others I am anxious about the coming months and unsure as to how this all plays out. All I hope is that we start looking at how we can help each other, from the individual to the large corporations.
If isolation goes past the five months, I will see where we are at in regards to the rent break. It feels like this year will be filled with uncertainty, so whatever comes our way, I think we should react on a human level rather than financial.
For the moment, we just need to be kind and do what we can. Now more than ever we need to be human.
Share your views in the comments below.
Do you have a story you’d like to share? Get in touch by emailing jess.austin@metro.co.uk
MORE: People with Down syndrome could be left to die of coronavirus to ‘save’ medical supplies
MORE: Mums are leaving onions in their kids’ rooms to ‘protect against coronavirus’
MORE: Virtual dates, phone sex and self-isolation chats – how coronavirus is changing dating
Coronavirus latest news and updates
- Visit our live blog for the latest updates: Coronavirus news live
- Read all new and breaking stories on our Covid-19 news page
- Coronavirus symptoms explained
- Find out the latest on which shops can stay open in a lockdown
- Who needs to go to work, who needs to stay at home and who is classed as a key worker?
source https://metro.co.uk/2020/03/27/coronavirus-rent-free-12465503/?ITO=squid
0 Comments