Help for student landlords

Jeremy535897

Grumpy_chap said:

I get that you can't eat bricks & mortar, but this UC seems too god to be true based on this forum.  There are people saying you can have all sorts of assets and still qualify for UC so long as you manage income and personal cash in the bank to be low.  Among recent threads, I have read the arguments put for the following types of capital as all disregarded:

• Classic car
• Cash in a Director-owned Ltd Co
• and now, a property portfolio (even allowing for reduction of equity because of 'fire sale')

Am I in the only household in the country not receiving free money every week, even outside of furlough?

No. Join the (relatively exclusive) club. (At least you get furlough. I don't even qualify for SA tax deferral. For which I am extremely grateful, albeit that it is a result of long hours worked over many years and spending as little as possible.)

Grumpy_chap

I thought everyone could ask for the tax deferral.
My furlough is very low.  I still think the scheme is unnecessary generous.  After the fact we can't go anywhere to spend anything, there is more left over than normal.

Jeremy535897

"You have the option to defer your second payment on account if you’re:

• registered in the UK for Self Assessment and
• finding it difficult to make your second payment on account by 31 July 2020 due to the impact of coronavirus

You can still make the payment by 31 July 2020 as normal if you’re able to do so."

I can.

Grumpy_chap

I'm paying mine too, as it is just simpler and covered by furlough.  It's only fair to help the hands that feed us.

silvercar

I’m confused. Surely the students who were living in the property before lockdown were on 12 month contracts that covered the academic year. So I would expect they have the obligation to pay rent until end of June at the minimum. Students in the main would be still receiving their grant/ loan for term 3 and so should be paying rent. It seems to me you are not in a position to release them from their contracts early.

for the next academic year, I would have thought students would still be signing contracts, some may have signed before lockdown.