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Managing rent arrears effectively during and after the coronavirus pandemic
The housing sector has come together to support landlords and tenants facing rent arrears as a result of the Covid-19 outbreak.
Amidst concerns about the impact that the virus has had on tenant finances, the organisations have launched guidance offering practical ways in which landlords and tenants can work to address arrears that might be building as a result of the pandemic.
The guidance includes the need for both parties to flag up any problems that might be arising early on, along with advice about measures that can be taken such as agreeing rent deferrals, reductions and suspensions.
It also provides support for tenants applying for benefits where need be and points to resources available to help develop budgeting plans to ensure tenants can cover the cost of essentials.
In a joint statement, the NRLA, the Chartered Institute of Housing, The Property Redress Scheme, My Deposits, the Tenancy Deposit Scheme and ARLA Propertymark said: “Covid-19 has posed significant challenges for both tenants and landlords.
“As a group we are committed to doing everything possible to sustain tenancies both through and beyond this period of crisis.
“The guidance being launched today has an important role to play in achieving this and we encourage all tenants and landlords to work through it together in a spirit of positive co-operation.”
Arrears Management and Coronavirus
Last updated: 05/08/2020 at 16:00 - 1.46 MB