I would like to take a moment to update you on how we are managing the outbreak of Covid-19 and how we plan to maintain our high level of service to you – whilst there certainly is a significant amount to consider, our primary concern is to ensure the health and well-being of our customers and staff.
In this newsletter, I will be addressing our office hours and your rental payments – updates on other areas will be sent out in due course.
Our Nottingham Offices are Open
We are operating a full working schedule – our offices are open for business albeit with extra precautions being taken to reduce transmission.
A full assessment has been undertaken into our staff’s individual circumstances – as a result, we have certain members of our team logging in remotely. In the last week, we have seen excellent results in terms of productivity, I can assure you that whilst fully supporting our compliance we are observing the requirements necessary to carry out our day-to-day duties.
Property Rental Payments
Our banking procedures are operating as normal, whilst payments are being received you will not notice any difference in your rental schedule.
Rent 'Holidays' and Mortgage Repayments
As I’m sure most of you are aware, the Government have produced a brief proposal to protect renters who fall into arrears as a result of the pandemic. Until the draft legislation is published the details are yet unclear, however the summary as it stands is as follows:
For three months (from a date not known at present), no private Landlord can commence possession proceedings for rent arrears. If possession proceedings are commenced after this period, it must be shown by the Landlord that they had exhausted all avenues in trying to come to an arrangement for the arrears to be paid.
For the full proposal, click here.
In terms of mortgage holidays, a bit of good news: whilst Tenants may be given extra time in paying rent, most high street mortgages including Buy-to-Lets will come under the scope of a three month holiday being offered by lenders.
Note: I would like you to know that we are going to be extremely pro-active in our approach to this and will be contacting all Tenants to encourage usual payments on time. Our role is to point out that even though the media are using phrases such as, “Rental holidays”, they are not at all ‘holidays’ – we will inform Tenants that even though payment plans sound like a simple solution, overpayments to get back on track can prove challenging and should be avoided where possible.
For now, we will continue to manage all rental payments – we have an excellent team that are dedicated to it and will keep you updated as and when required. Should you have any questions, please contact us and we will be happy to help as always.
Rent Guarantee Cover
Whilst most Rent Guarantee products are being limited at the moment, we are managing to find certain opportunities for rent cover depending on individual circumstances. If you would like more information on this type of cover, please email my colleague Sam (firstname.lastname@example.org) - he is fully briefed and will be happy to provide the most up-to-date advice.
A Personal Note from Me
My number one goal has always been to provide you with as much support and as many options as possible. I’ve always been proud about taking the hassle out of lettings/contracts/safety regulations/legislation/licensing (and so much more). I know you have your own pressures and are busy dealing with your everyday duties – at a time when de-stressing is more important than ever, I take it extremely seriously that it is up to our exceptional team and me to deal with this ever-changing situation brilliantly, so that you don’t have to.
As always, a huge thank you for your continued support – we will carry on generating more and more ideas on how to stay one step ahead, we will be extremely vigilant in conforming to all guidelines as they develop and will of course carefully monitor the situation as changes are introduced.
I will keep you posted on the measures we have put in place to help protect all parties whilst ensuring your investment is performing well. In the meantime, if you would like more information about our coronavirus policy and changes, please email our General Manager Scott (email@example.com) – he will be available on site each day to answer any questions.
Posted 19 March 2020
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