Although there is light at the end of the tunnel, challenges for landlords remain

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Although there is light at the end of the tunnel, challenges for landlords remain

By RentiD Admin

Although the light at the end of the tunnel draws ever closer, challenges for landlords remain

The success of the UK’s vaccination programme to date is a testament to the advantages of a centralised healthcare system (our wonderful NHS) and is fuelling hope for the swiftest possible recovery of our battered economy.

I’m sure there were also collective sighs of relief when the Chancellor announced the extension of the furlough scheme to the end of September although many will argue that they have still fallen through the gaps for support eligibility and many employers are wondering how much longer they can hold out whilst continuing to cover employment costs.

Fears of further unemployment and tenants getting into further financial difficulties will be with us for some time yet.

The government recently updated their guidance for landlord and tenants with details of a new, free to use mediation service pilot for cases which have reached court.

As part of the new court arrangements put in place following the end of the stay on possessions, tenants will have access to free legal advice from the Housing Possession Court Duty Scheme (HPCDS) on the review day. If both parties agree and the case is considered suitable, the case will be referred for the free mediation service. A mediator from the Society of Mediators will then get in touch with the tenant and landlord to arrange a suitable time for the mediation to take place. This will be a series of telephone calls between all parties and will provide the landlord and tenant with an opportunity to reach an agreement that best suits them and can be sustained.

If an agreement is reached during mediation, then the mediator will ask both parties to sign an agreement and will inform the court of the outcome. If an agreement is not reached, then the substantive hearing will take place on the date specified. Agreeing to mediation will not make the court possession process any longer.

Full information about the pilot, its advantages and limitations is available in the Government’s non-statutory guide for landlords and tenants click here.

RentiD’s recommendations

Whilst this additional level of support is welcome, our advice to landlords to navigate this challenging time remains unchanged: click here.

Maintaining open and direct dialogue with your tenants is key, as is keeping on top of rent payments across your portfolio so that any problems can be identified and attended to early before they escalate beyond control.

At RentiD, we help facilitate that direct line of communication with your tenants and with our Rent Tracking feature available on our Manage Plus subscription, it’s never been easier to keep tabs on the status of your rent payments across even the largest portfolios.

Although there is light at the end of the tunnel, challenges for landlords remain

Although our emergence from this terrible pandemic is tantalisingly close, there is much many landlords still need to get better control of to protect their investments and income.

Dev Singh

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