Property Advice for Landlords

Property Advice for Landlords

ZUNE TH

S AT TA R

THE ECONOMIC IMPACT OF THE CORONAVIRUS PANDEMIC HAS BEEN HARD ON VARIOUS ASPECTS OF THE UK ECONOMY, INCLUDING THE PROPERTY SECTOR.

PROPERTY ADVICE FOR LANDLORDS Landlords, particularly, have had to navigate financial pressures stemming from the effect of the crisis. For many, the concerns range from the future of the sector to the financial health of their tenants and properties.

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Like many sectors of the economy, landlords and property owners need support to make it through the tough times. While some may have had contingency plans in place, the uncertain nature of the crisis may mean it takes longer to resolve. Should this be the case, some property owners may need to make additional plans for the extended period.

The Benefit of Regular Communication Landlords have to maintain close and regular contact with their tenants, whether the latter are impacted or not. For those who have tenants with financial difficulties, keeping close contact helps owners adjust expectations and keep track of individual situations. It also helps landlords make financial plans for their own properties, something that’s especially crucial to an owner servicing a mortgage or bank loan.

Take External Help Where it’s possible to gain some measure of financial relief through grants or loans, landlords should be open to these options. The qualifications may rule many property owners out, but any financial support is welcome under the circumstances.

Zuneth Sattar

Landlords have to maintain close and regular contact with their tenants, whether the latter are impacted or not.

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