Money Moral Dilemma: Should I reduce my furloughed tenant's rent?

dontagoat

I am a live in landlady and rent out 2 rooms to help pay my bills one lodger has said he May not be able to pay full rent as been laid off work not much I can do if he doesn't get up to date in a few months will take it from deposit money if anything it costs me more as home alday tv computer lights on bored takes another shower do more washing but has money to cook 3 meals a day more gas elec

agadsby

Given that the retired partners income will have increased in line with the 2020 state pension increase and the tax take on her income has also reduced, their overall income has not dropped anything like 25%. Probably more like a 10% reduction. 

Anyway, this is their problem not yours so a simple no is the answer.

Sunrise666

I would explain that you still have your bills to pay and are not receiving any help from the government, unlike them.
 I would ask if they would prefer either to 1) pay the full rent now (which they are legally liable for) or 2) to have a breathing space for two months with paying what they are offering now with the balance to be paid in two months time, in addition to the full rent then due.
  Many tenants think that the mortgage "holiday" being offered to some landlords mean that they don't have to pay anything when in fact it just means postponing the mortgage payments and therefore paying more interest. If  landlords can't pay the mortgage then the house will be repossessed and the tenant will lose his home anyway. 

Montypup1

The answer is just no I think the tenant is being very cheeky! outgoings will be a lot less for everyone no going out,  no shopping for clothes so most will be making savings

ExFitty

I think that the amount that this couple is earning, to ask for a 25% 'discount' on a fairly cheap rent is just wrong and that they are trying their luck. They would not get a 25% discount off any other services or their food bill.  If you wish to keep things convivial between you I would offer between 10 - 20% deferred payment 'holiday', making it very clear that this amount is to be paid back at a point in the future, and put this in writing.  Just because their pay has gone down does not mean that you have to accept a loss as well and definitely not 25%, if you are going to accept a lower payment it should not be more than 12.5% less.  As with all these Forums - the main thing is to TALK to each other to come to the most appropriate solution given your individual circumstances 

oldcrochety1

Why should they even ask for a reduction if their income is going to be the same as before? It's ridiculous. She'll also - presumably - be saving on travel costs. Your overheads, I would think, are going to be the same, so no, you're not being mean. Keep the rent as it is. For heaven's sake, if her income is £2500 per month and the rent is £750, what on earth are they spending their money on? Maybe she needs a consulattion with Martin Lewis!

crmism

Landlords can count their blessings if they have trouble-free tenants who pay their rents promptly and comply with the terms of their agreement in full and, if your present tenants are like that, there's no reason why you shouldn't accommodate their plight and reduce the rent temporarily. What they earn between them, and what you have in the nature of income, is irrelevant. Just be glad you aren't like so many other landlords who often find themselves spending their own money in court trying to recover unpaid rent and the costs of damage to furniture and fittings.

onwards&upwards

crmism said:

 accommodate their plight

If ‘only’ earning £2500 a month is a plight, a lot of people are in big trouble!

vixn

We rent out 3 properties locally and have agreed that one tenant can pay 75% of her rent and the other 2 can pay 80% until things get back to normal. However we have 2 children at university renting privately and have been told in no uncertain terms that we have to pay full rent when they are currently not living there and more than likely won’t return before September when their tenancy is up. There seems to be no sense behind this

blueblueflower

I don’t know if anyone can help, im in the process of selling my flat that I rent and hopefully should go through by end of may, in the meantime however my tenant has stopped paying the rent completely and is already 2 months in arrears. I am self employed and work in a school so my job is at the moment pretty much on hold. I’m not quite sure how to get the rent paid? I would be happy to have it over a period of time. Any advice please?