Managing properties through the eviction ban extension
Over the course of the eviction ban for residential tenancies, the government have looked to balance support for tenants and landlords, helping those unable to meet their rent payments whilst recognising the strain this puts on landlords who may depend on the income.
As of June 1st, notice periods were reduced from six to four months for residential tenancies.
This is except for situations including anti-social behaviour, with a shorter notice period of two weeks.
Compared with homeowners, it’s estimated that tenants are more than three times as likely to be behind with rent or bills, 6% and 19% respectively.*
With courts still prioritising hearings based on severity, it’s important to look for a resolution to rent arrears or disagreements where able between parties.
As leading lettings agents, we facilitate communications between landlords and tenants to offer our expert services.
What about for commercial landlords?
Whilst the ban has lifted for residential agreements, the ban on evicting firms for unpaid commercial rent is to be extended for a further nine months.
Many businesses within the hospitality sector are yet to reopen and resume trading as normal, all the while accruing an estimated £5bn in rent debt.
If you need advice about the eviction ban, go to GOV.UK.
Want help managing your property? Talk to our team today.
This article was originally published by BriefYourMarket and is reproduced here with their permission.
Are mortgage rates high or returning to normal? Here's what to do
There is no doubt that interest rates are a lot higher than they have been for some time.
Buyer affordability is improving
There is always a wonderful reason to move.
Could the property market warm again as Christmas is on the horizon?
Now that the entire family has settled back into work or school, many people are getting on the move again.