Keep up to date with the latest Stags news
The housing secretary recently announced that the current ban on bailiff evictions due to the Covid crisis will be further extended until the 21st February.
With the current lockdown unlikely to be lifted soon it is possible following a review that this ban maybe further extended. This change needs to be considered along with the requirement to now have to give tenants 6 months not the usual 2 months notice requiring vacant possession. A further change due to the Covid crisis.
The announcement was widely expected to fulfil the Governments desire to protect the most vulnerable renters. However, this will not be well received by landlords, many of whom have genuine reasons why they require possession of their property and in some cases to move into themselves as they have no property of their own.
There has been some leeway from the Government, in providing an exemption for landlords who have arrears greater than 6 months, an improvement on the previous 9 months. The fear is that tenant debt continues to rise to a point where they will never be able to pay them off.
Andrew Luxton MRICS FARLA Partner of Stags Residential Lettings feels that the Government should recognise the crisis facing many tenants and take immediate action to enable them to pay their debts as is happening in Scotland and Wales. Stags are pleased by the low level of arrears incurred throughout the Covid crisis in their portfolio which has been brought about by the majority of landlords and tenants working well together and communicating in order to create payment plans etc.
For any further advice please feel free to contact your local Stags lettings team, we’re here to help.