Tenants are stopping paying their rent early before the official holiday? Things starting to break d

mwarby

It wouldn't surprise me if we see a slimmed down delivery service of some sorts, if things get much worse. It's going to be much easier to deliver standard bags of groceries in a system optimized to favor route efficiency over timeslots.

silvertooth

ProDave said:

SWMBO works in a shop.  The shelves are bare of essentials.  Sales are only up 21%  So if this is typical the average shop cannot cope with a 20% increase in demand.  I suspect the increase in demand (were the stock to be there to buy) is more like 100%

The "problem" is we are being told to get ready to self isolate, and also being told not to stock up on food.  Okay if that's what you want then just WHAT is your plan to feed all these self isolating people then?  In the absence of clear guidance, people make their own plans.

How can they say get ready for shortages and self isolate and at the same time please don’t panic buy?

there are many who are not paying rents or council tax or any bills for that matter and spending it all on food and whatever is still on the shelves 

Malthusian

SWMBO works in a shop.  The shelves are bare of essentials.  Sales are only up 21%  So if this is typical the average shop cannot cope with a 20% increase in demand.  I suspect the increase in demand (were the stock to be there to buy) is more like 100%

Only if you measure demand over a very short timescale. As the essentials people are buying aren't perishable, every packet of loo roll they buy today is a packet they won't buy next week. Overall demand is virtually unchanged.

AG47 said:
there are many who are not paying rents or council tax or any bills for that matter and spending it all on food and whatever is still on the shelves 

Name three.

strawb_shortcake

silvertooth said:

ProDave said:

SWMBO works in a shop.  The shelves are bare of essentials.  Sales are only up 21%  So if this is typical the average shop cannot cope with a 20% increase in demand.  I suspect the increase in demand (were the stock to be there to buy) is more like 100%

The "problem" is we are being told to get ready to self isolate, and also being told not to stock up on food.  Okay if that's what you want then just WHAT is your plan to feed all these self isolating people then?  In the absence of clear guidance, people make their own plans.

How can they say get ready for shortages and self isolate and at the same time please don’t panic buy?

there are many who are not paying rents or council tax or any bills for that matter and spending it all on food and whatever is still on the shelves 

To be fair there were people not paying their bills before this, now those that like something for nothing will exploit the situation, those that are struggling usually make the most effort to pay what they owe and those that can pay will continue to do so

Arklight

Over on the forum hpc.co.uk they are excited by the prospect of not paying their rent. They are ecstatic! 

They hope landlords will feel the pain of a rent strike. They approve of this.

They are not so keen on mortgages being forgiven.

silvertooth

annabanana82 said:

silvertooth said:

ProDave said:

SWMBO works in a shop.  The shelves are bare of essentials.  Sales are only up 21%  So if this is typical the average shop cannot cope with a 20% increase in demand.  I suspect the increase in demand (were the stock to be there to buy) is more like 100%

The "problem" is we are being told to get ready to self isolate, and also being told not to stock up on food.  Okay if that's what you want then just WHAT is your plan to feed all these self isolating people then?  In the absence of clear guidance, people make their own plans.

How can they say get ready for shortages and self isolate and at the same time please don’t panic buy?

there are many who are not paying rents or council tax or any bills for that matter and spending it all on food and whatever is still on the shelves 

To be fair there were people not paying their bills before this, now those that like something for nothing will exploit the situation, those that are struggling usually make the most effort to pay what they owe and those that can pay will continue to do so

USA has joined the other countries making it illegal to evict tenants who don’t pay their rent due to the coronavirus 


my question is what happens when the LL can no longer afford to keep up with mortgage payments?

one way or another not looking good for property markets if they could see as large a crash as the stock markets and pretty much every other markets 

strawb_shortcake

silvertooth said:

annabanana82 said:

silvertooth said:

ProDave said:

SWMBO works in a shop.  The shelves are bare of essentials.  Sales are only up 21%  So if this is typical the average shop cannot cope with a 20% increase in demand.  I suspect the increase in demand (were the stock to be there to buy) is more like 100%

The "problem" is we are being told to get ready to self isolate, and also being told not to stock up on food.  Okay if that's what you want then just WHAT is your plan to feed all these self isolating people then?  In the absence of clear guidance, people make their own plans.

How can they say get ready for shortages and self isolate and at the same time please don’t panic buy?

there are many who are not paying rents or council tax or any bills for that matter and spending it all on food and whatever is still on the shelves 

To be fair there were people not paying their bills before this, now those that like something for nothing will exploit the situation, those that are struggling usually make the most effort to pay what they owe and those that can pay will continue to do so

USA has joined the other countries making it illegal to evict tenants who don’t pay their rent due to the coronavirus 


my question is what happens when the LL can no longer afford to keep up with mortgage payments?

one way or another not looking good for property markets if they could see as large a crash as the stock markets and pretty much every other markets 

In the current climate repossessions and evictions are going to take longer than ever so no immediate threat to anyone.
BTL mortgages are typically interest only, so far easier to scrape the money together from th LL, tenants or both to ensure the mortgage is paid.

silvertooth

annabanana82 said:

silvertooth said:

annabanana82 said:

silvertooth said:

ProDave said:

SWMBO works in a shop.  The shelves are bare of essentials.  Sales are only up 21%  So if this is typical the average shop cannot cope with a 20% increase in demand.  I suspect the increase in demand (were the stock to be there to buy) is more like 100%

The "problem" is we are being told to get ready to self isolate, and also being told not to stock up on food.  Okay if that's what you want then just WHAT is your plan to feed all these self isolating people then?  In the absence of clear guidance, people make their own plans.

How can they say get ready for shortages and self isolate and at the same time please don’t panic buy?

there are many who are not paying rents or council tax or any bills for that matter and spending it all on food and whatever is still on the shelves 

To be fair there were people not paying their bills before this, now those that like something for nothing will exploit the situation, those that are struggling usually make the most effort to pay what they owe and those that can pay will continue to do so

USA has joined the other countries making it illegal to evict tenants who don’t pay their rent due to the coronavirus 


my question is what happens when the LL can no longer afford to keep up with mortgage payments?

one way or another not looking good for property markets if they could see as large a crash as the stock markets and pretty much every other markets 

In the current climate repossessions and evictions are going to take longer than ever so no immediate threat to anyone.
BTL mortgages are typically interest only, so far easier to scrape the money together from th LL, tenants or both to ensure the mortgage is paid.

It’s very unfair that property owners will still be on the hook for back paying all the interest 

but tenants will not have to back pay all those months free rent

sure they will try to get it back but it’s all been spent on pizza, drinks and big roll

strawb_shortcake

silvertooth said:

annabanana82 said:

silvertooth said:

annabanana82 said:

silvertooth said:

ProDave said:

SWMBO works in a shop.  The shelves are bare of essentials.  Sales are only up 21%  So if this is typical the average shop cannot cope with a 20% increase in demand.  I suspect the increase in demand (were the stock to be there to buy) is more like 100%

The "problem" is we are being told to get ready to self isolate, and also being told not to stock up on food.  Okay if that's what you want then just WHAT is your plan to feed all these self isolating people then?  In the absence of clear guidance, people make their own plans.

How can they say get ready for shortages and self isolate and at the same time please don’t panic buy?

there are many who are not paying rents or council tax or any bills for that matter and spending it all on food and whatever is still on the shelves 

To be fair there were people not paying their bills before this, now those that like something for nothing will exploit the situation, those that are struggling usually make the most effort to pay what they owe and those that can pay will continue to do so

USA has joined the other countries making it illegal to evict tenants who don’t pay their rent due to the coronavirus 


my question is what happens when the LL can no longer afford to keep up with mortgage payments?

one way or another not looking good for property markets if they could see as large a crash as the stock markets and pretty much every other markets 

In the current climate repossessions and evictions are going to take longer than ever so no immediate threat to anyone.
BTL mortgages are typically interest only, so far easier to scrape the money together from th LL, tenants or both to ensure the mortgage is paid.

It’s very unfair that property owners will still be on the hook for back paying all the interest 

but tenants will not have to back pay all those months free rent

sure they will try to get it back but it’s all been spent on pizza, drinks and big roll

Then they shouldn't be in the letting business if they don't like the risks. Besides which a suspension of bills isn't a freebie, I'd fully expect the debt to be repaid once it's settled down. 
Have you considered actually looking at your local community and seeing how people are working together? You may take a more positive note from this. We have groups set up to help those less fortunate, from shopping to dog walking to supporting those on low incomes with food parcels. It's not all as bleak as you'd like to think

Malthusian

annabanana82 said:

Have you considered actually looking at your local community and seeing how people are working together? You may take a more positive note from this. We have groups set up to help those less fortunate, from shopping to dog walking to supporting those on low incomes with food parcels. It's not all as bleak as you'd like to think

That sounds like hard work. Can't I help them out by encouraging them to buy silver and get rich quick, which will solve all their problems before and after coronavirus runs its course?