How much rent discount because of coronavirus?

annetheman

lees80 said:

PasturesNew said:

I would let them know that, if they wished to vacate early, I'd want about a week's notice and let them only have to pay the rent up to the date they leave.  As a tenant you can feel "trapped" by that AST, unable to get out of it, fearing if you move into a shared house/smaller place quickly then you'd still have to pay for the first place. 

As a tenant I would wish to pay my way, 100%, but I'd prefer the flexibility to be on the "how do I get out of this" bit of the deal. 

While "trapped" paying rent for the next X months ... it can lead to complete inactivity as your head fries with the idea that you can't afford to live here, but you can't afford to leave.... 

If you couldn't afford to rent, where would you be going to live? (genuine question, not a dig, I'm curious as to what the alternative would be) 

Good question, especially because it costs to move in any case, you'd need to gather a deposit and move your things (if unfurnished) - where would you get this money if you can't afford rent?

mwarby

james.wardle said:

Hello Renters. 
many of my tenants are self-employed or freelance and are going to struggle with cash flow with the current  Coronavirus loss off confidence and potential lockdown.
typically as we are in the south universal credit would only pay up to 2/3 of the rent for a house, and perhaps a bit more with the discretionary housing payment.
What do you think the best thing to do to help them out would be?

1, Reduce the rent to whatever UC will cover for 6 months?
or
2, A months rent holiday for some breathing space?
or
3, 50% reduction for 3 months.
or something else
If you are a renter please let me know what you would find most helpful.
thanks
James

re 1 and 3, I'd be concerned that at least some tenants would get to used to the reduced rent level, which could make returning to the old rent level difficult

onwards&upwards

lees80 said:

PasturesNew said:

I would let them know that, if they wished to vacate early, I'd want about a week's notice and let them only have to pay the rent up to the date they leave.  As a tenant you can feel "trapped" by that AST, unable to get out of it, fearing if you move into a shared house/smaller place quickly then you'd still have to pay for the first place. 

As a tenant I would wish to pay my way, 100%, but I'd prefer the flexibility to be on the "how do I get out of this" bit of the deal. 

While "trapped" paying rent for the next X months ... it can lead to complete inactivity as your head fries with the idea that you can't afford to live here, but you can't afford to leave.... 

If you couldn't afford to rent, where would you be going to live? (genuine question, not a dig, I'm curious as to what the alternative would be) 

It’s in the first paragraph, somewhere smaller or a shared place, presumable to lower costs.

Alter_ego

onwards&upwards sa

It’s in the first paragraph, somewhere smaller or a shared place, presumable to lower costs.

Or back to family home.

lisyloo

Alter_ego said:

onwards&upwards sa

It’s in the first paragraph, somewhere smaller or a shared place, presumable to lower costs.

Or back to family home.

Not possible for everybody especially as you get older.
for example parents may have died or be in a residential/nursing home, could have divorced and have new partners (which could mean less welcome), or you could have a family yourself and your parents have downsized, you might have a job in a different location.

Thrugelmir

Forbearance as long as it takes. Going to require a collective effort between everybody to see this crisis pass. 

Crashy_Time

lees80 said:

PasturesNew said:

I would let them know that, if they wished to vacate early, I'd want about a week's notice and let them only have to pay the rent up to the date they leave.  As a tenant you can feel "trapped" by that AST, unable to get out of it, fearing if you move into a shared house/smaller place quickly then you'd still have to pay for the first place. 

As a tenant I would wish to pay my way, 100%, but I'd prefer the flexibility to be on the "how do I get out of this" bit of the deal. 

While "trapped" paying rent for the next X months ... it can lead to complete inactivity as your head fries with the idea that you can't afford to live here, but you can't afford to leave.... 

If you couldn't afford to rent, where would you be going to live? (genuine question, not a dig, I'm curious as to what the alternative would be) 

Quite possible that a lot of people losing income over this (they might not even be sick) are going to flee back to parents/relatives, especially from London, probably the last place you want to be during a pandemic IMO, leaving the landlord to deal with the void.

need_an_answer

As a LL  I will be speaking and possibly arranging any terms with tenants only as and when they raise the situation.
Whilst I  think its a noble gesture for you to be offering something upfront not all will need it and being blunt some may even take too much advantage of your generosity.
You've only got to look at the way some people are stripping supermarket shelves of essentials to realise that actually they must be able to afford £60 or £70 a week more for "basic but essential stockpiling".

Rent is one of those expenses that you cover first to keep the roof over your head,thats basic 

sarahshallcross

As a renter both me and my husband are self employed taxi drivers, as the schools are closed our schools contracts are cancelled and we don't know yet if the council will honour any part of the payments while the schools are closed, everyone is being advised to stay at home. We were extremely busy until now,  we don't claim benefits and are unsure what help we can get, every landlord should be like you, awesome respect x