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Coronavirus Cash Crisis - over half of landlords have lost income

More than 50 per cent of private landlords have lost rental income as a result of the pandemic says new research.

A third of landlords have also indicated they were now more likely to either leave the market entirely or sell some properties.

The National Residential Landlords Association’s survey for the fourth quarter of last year found 56 per cent had lost rental income, with 12 per cent having lost more than 20 per cent of that income.

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Of those who lost income, 22 per cent lost over £5,000 and 59 per cent lost in excess of £1,000. Meanwhile 36 per cent said their losses were still increasing.

Of those losing non-rental income as well, 41 per cent lost over £1,000 and 20 per cent losing over £5,000.

Responding to the interim results, NRLA chief executive Ben Beadle says: “Although most landlords have done everything they can to help tenants affected as a result of the pandemic, we have now reached the end of what they are able to do.

“Simply continuing to ban repossessions just means that tenants struggling to pay their rent are accumulating more debt reducing the chances that they will be able to pay it off. This ultimately will put more renters at risk of losing their homes.

“Ministers need to develop a proper plan to sustain tenancies and help the rental market recover. This needs to include a financial package to enable tenants to pay off any arrears built as a direct result of the pandemic.”

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    I empathise with the plight of the LLs in such a situation. I urge the government to financially support such LLs

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    Landlords don't want cash hand outs, just the rent paid, in full and on time.

     
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    Give tenants in trouble loans paid directly to landlords to cover rent. Landlords don't need anything else.

     
  • Matthew Payne

    Of course it is a real problem for 1000s of landlords in the UK, but all the same, these numbers seem very high. More landlords than not I speak to dont have any arrears or just timing differences, and most agents tell me their arrears are 2-5% of rent roll. Would be interesting to see details of the sample taken.

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    I agree with you on that one Matthew, I've not had any problems with my residential tenants, nor have any other landlords that I speak to locally (Norfolk) I have sadly lost a commercial tenant (of 24 yrs) but re advertised the property and had 4 people all wanting it, so where are these 1000s of landlords ?

     
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