Rental Accounting Responsibility: Accounts Closure

Welcome to Home Relief Bulletin Board

Monday  06 July  2020

by the Property  Team

Post No. 148

 

 

Rental Accounting Responsibility: Accounts Closure

How to successfully close your rental accounts as an outgoing tenant as the lockdown eases

This week, as part of Summer Help to Rent, we are working with home seekers and outgoing tenants on the best possible way of closing their end-of-tenancy or rental accounts.  This Help to Rent will also include those tenants who have decided to move out because of the current difficult situation caused by Covid-19.

Often, when a tenant signs up for a long-term rental agreement (such as a 6 months to 18 months assured short hold tenancy), generally speaking they will be responsible for the payment of the bills (e.g. gas, electricity, water rates, council tax, TV licence, phone etc.) as well as the organisation of the way those bills are paid.

Depending on who is their landlord/lady or letting agent, tenants may or may not get help to close their rental accounts at the end of the tenancy or if both sides of the rental process (landlords/ladies and tenants) decide to end their agreement early.  There are resources on how a tenant can terminate their tenancy.  These resources mostly cover the legal side of the contract in matters such as notice to vacate.

The financial side of closing a rental agreement from the tenants’ perspective

In this week’s Help to Rent, we are going to deal with the financial side of terminating or closing a contract from the tenants’ perspective.  If you have already been a tenant and you have experience on closing your rental accounts; that is fine.

However, if you do not have experience in doing it, this could be a new area of learning.  Some tenants can easily handle their rental accounts from the opening to the closure, while others may find it difficult, especially in the rental environment where there is constant change.  That is why we are organising this activity to support them, particularly during this difficult time of Covid-19 side effects and controversial easing process of lockdown.

For those who have not been in the process of closing their rental accounts before and those who are finding it hard to close their rental accounts, we are working this week to support them in this area of rental accounting responsibility.

Help to successfully close your rental accounts

Working together with renters to close the rental accounts they first set up at the start of their contract will include the following activities:

√ Listing all the rental accounts that made their tenancy period

√ Identification of rental payments related to utility and telecoms suppliers, community charge (council tax), TV licence etc.

√ Establishing all your real incomes to cover your rental commitment for the tenancy period

√ Tracking of rental expenses including rent payments and Covid-19 expenses

√ Close all the balances on these accounts

√ Checking if there are in credits (someone else owes you) or in debits (you owe someone else)

√ Verifying if there are any missing outstanding amounts or debts from you part

√ Dealing with rental accounts online and offline

√ Finding out any accounting and financial mistakes done in handling your accounts

√ Reviewing rental budget including money puts aside for potential damages and repairs

√ Looking at any evidence in the form of receipts, bills, invoices, financial statements, videos, text messages, guides and tools that helped tenants to effectively and efficiently manage their rental accounts

Benefits for a good rental accounts closure

There are benefits for properly closing your rental accounts, benefits which include:

√ Reduction and avoidance of potential conflicts with your landlord/lady or their agents

√ Saving money with companies supplying services to your next rental

√ Protection for your deposit

√ Safeguarding your reference and credentials

√ Keeping secure your credit scores and check file and profile

√ Avoiding frictional and confrontational moving out

√Above enjoying a hassle-free tenancy closure and peace of mind

Need help to close your rental accounts, e-work Home Relief this week.

Need to check about rental accounts already set up, e-work Home Relief this week.

 

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, go to https://homerelief.co/property-search/

For weekly property news and updates, please read our weekly posts.

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout the year.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes

 

 

Making Rental Steps

Welcome to Home Relief Bulletin Board

Monday  29 June  2020

by the Property  Team

Post No. 147

 

 

How to build back better your return from the lockdown

Many prospective tenants and landlords/ladies are still having problems to cope with side effects of the coronavirus pandemic and post crippling lockdown.  As far as renters are concerned, they are still wondering about the healthiest and safest way of renting a property.  Regarding landlords/ladies, some of them are still having unanswered questions such as thinking whether or not it is the right time to let their properties since they have to manage their own personal life from the adverse effects of Covid-19 and lockdown.

This week, we will be e-working with these two sides of the rental process so that they can steadily make again their rental steps as the unlocking of housing market continues.  The purpose of this week’s e-work is to support them find their appropriate pace and speed to build back better their return from the lockdown.

In a typical business scenario, a business that has been closed due to the coronavirus pandemic will prepare itself before reopening after the lockdown.  For individuals like renters and landlords/ladies, what kinds of preparation they can make to build back better their return from the lockdown?

This week, we will e-work with landlords/ladies and renters to find out the kinds of preparation they can make, especially for those who are still hesitant to take up steps in an unlocked housing market.

 

What this week’s e-work can achieve

One can hope through this week’s process of building back better return the following can be achieved:

√ Develop build-back-better-return goals and path

√ Regain the confidence lost in the housing market

√ Develop a plan to return safely and healthily

√ Invest in building back better

√ Manage the risks of return from the lockdown

√ Measure outcomes and results/benefits of returning

√ Set up a monitoring and evaluation process to deal with the return

Etc.

 

What difference this week’s process will make for landlords/ladies and renters

One could also hope that landlords/ladies and renters will be or become better

√ Self-confident with the new normal in the unlocked housing market

√ Aware about safe and healthy rental steps

√ Planners of their own return or returning journey

√ Investors in building back better

√ Managers of risks associated with the return

√ Monitors and evaluators of their own return

√ Checkers of their outcomes achieved during the return process

Etc.

Through this week’s activity, we will have the opportunity to share resources (both print and online) with landlords/ladies and renters; resources regarding making steps and progress in an unlocked housing market.

Need to build back better your return from the lockdown, this is an opportunity to e-work with Home Relief.

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, go to https://homerelief.co/property-search/

For weekly property news and updates, please read our weekly posts.

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout the year.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes

 

 

Private Rental Contract Changes

Welcome to Home Relief Bulletin Board

Monday  22 June  2020

by the Property  Team

Post No. 146

 

Rental Responses to Covid-19

Case of Private Rental Contract Change

 

There have been many ways of responding to the Covid-19 outbreak and its related consequences by both sides of the rental process (landlords/ladies and tenants).  Amongst these responses are the following: reduced rent, rent repayment plan, contract shift, early end of tenancy agreement, etc.

As some landlords/ladies and tenants continue to experience difficulties in their rental agreements and relationships despite the reopening of the housing market, there could be a need to look at some of these responses in terms of their effectiveness and problems-solving feature. One of these responses is contract change which will be the focus of our e-work this week.

Private Rental Contract changes

Usually, a tenancy agreement cannot be changed unless both parties agree to the changes.  If both parties agree, the change should be recorded in writing either by drawing up a new tenancy agreement or by amending the existing agreement.

In difficult circumstances like of Covid-19, contract change can be used if the two parties want to continue the tenancy under new terms.  One of the contract changes is a rolling tenancy.

A rolling tenancy is a statutory periodic tenancy that rolls each month, according to the rent period.  So, if a tenancy is paid monthly it will roll from month to month. 

Like in any tenancy, there are pros and cons regarding a rolling tenancy.  One of the problems of a month-to-month rental contract is the lack of security between the two contractual parties in terms of the length of stay in the property.

This week, we are e-working with landlords/ladies and tenants to explore the practicals in terms of contract change or shift to enable the two parties to cope with the Covid-19 pressure. 

What this week’s e-work will deal with

We will e-work on the following:

√ Needs assessment of contract change or change of tenancy terms and conditions

√ Determinants or parameters that preside over contract change

√ Contract change initiators (whether it is a tenant or landlord/lady who initiates) and implications for the initiator

√ Proceedings or process to change contract

√ Risks involved in contract change or amendment

√ Implementation of a changed or amended contract

Etc.

Additionally, we will be sharing the available resources (online and print) related to the topic of private rental contract change.

What this week’s e-work expects to achieve

One could hope that at the end of this week’s process, landlords/ladies and tenants will be…

√ Better aware of the advantages and disadvantages of contract change

√ Choosing the formula of contract change that is the most appropriate to command a less conflicting relationship

√ Avoiding further rental agreement pressure at this difficult time of the pandemic

√ Preserving the rental interests of each party

Need to e-discuss change of contract, why not e-work with Home Relief.

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, go to https://homerelief.co/property-search/

For weekly property news and updates, please read our weekly posts.

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout the year.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes

 

 

Rent Renegotiation

Welcome to Home Relief Bulletin Board

Monday  15 June  2020

by the Property  Team

Post No. 145

 

 

Rent Renegotiation

How to renegotiate rents during no evictions period

 

The Covid-19 rental fallout continues to arise.  This week, we are looking at this fallout through the demand from tenants for rent renegotiation.

As demand for rental properties has fallen while supply of the same properties has grown, this has led to the tendentious reduction of rents.  This is a situation of any market when supply is too higher than demand.  In such case, the price (here rent) is dictated by this market reality. 

It is not a surprise if tenants who are moving house or renewing contracts are demanding lower rents.  Likewise, those who have lost their jobs or earning capacity are asking for rent renegotiation due to the negative impacts of coronavirus.  Low income earners may be looking forward to low rents as well at this difficult time.

Whether it is a landlord/lady or tenant, everybody is feeling the pain or impacts of Covid-19.  However, to resolve any dispute or misunderstanding over rent, it is always good to seek advice or open minds for talks.  Because of the scenario that landlords/ladies and tenants are in here is of rent that was already been negotiated, then one can look at other options such as rent renegotiation to avoid an impasse.

If there is a zero option, then it could be better to renegotiate rent level since the two sides of the rental process are in unwanted or uncharted territory caused by Covid-19.  Renegotiation is important since evictions will not be allowed by the UK Government before the 23 August 2020.

However, how do you renegotiate what you have already negotiated and agreed as a legally binding contract?

In exceptional moments and circumstances like of a global health crisis brought by Covid-19, it is possible to renegotiate and agree exceptional arrangements and terms to adapt and mitigate the life-threatening and destroying impacts like the one caused by Covid-19.

This week, we are going to look at ways of setting up steps to renegotiate rental matters between private landlords/ladies and tenants to avoid or reduce the damaging effects that can be caused by a general tendentious reduction of rents due to the domino effect of coronavirus. 

Renegotiation could be the best least option and worth doing since Covid-19 is still there, and so far no medicine or vaccine has been found to cure it.  We are in a situation in which the economic landscape is uncertain and the rental sector has to live with Covid-19 effects for unknown period or deadline.

 

How this week’s e-work will help

This week, we will be e-working with both landlords/ladies and tenants having the issue of rent reduction or review to help them  on how to…

√ Prepare for rent renegotiation where it is possible to be done

√ Develop an agreeable rent renegotiation or repayment plan

√ Set up realistic and achievable aims and objectives in a rent renegotiation

√ If necessary, arrange a face-to-face rent renegotiation between the two while maintaining physical and social distancing rules

√ Secure the best possible outcome in rent renegotiation for both parties

 

What this week’s e-work can achieve

One could hope that at the end of this week’s process, landlords/ladies and renters will…

√ Improve their rental renegotiation skills

√ Avoid a total collapse of a tenancy in the midst of Covid-19

√ Save a mutually agreed tenancy

√ Reduce the loss of rents for landlords/ladies while motivating tenants to improve their source of income to meet current or renegotiated rents

√ Protect tenants’ rental history and credit score

√ Avoid rent strike from tenants’ part

√ Keep communication flowing between the landlords/ladies and tenants over rents

Briefly, this week’s activity is not to recommend renegotiation to either of the parties, but to facilitate rent renegotiation process where there is no any other viable alternative solution.

If you are a landlord/lady and have tenants who are asking for rent reduction or if you are a tenant making a demand for rent reduction, you can e-work with Home Relief on rent reduction issues.

  

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, go to https://homerelief.co/property-search/

For weekly property news and updates, please read our weekly posts.

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout the year.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes

 

 

Covid-19 Rental Payment Fallout

Welcome to Home Relief Bulletin Board

Monday  08 June  2020

by the Property  Team

Post No. 144

 

 

 

Covid-19 Rental Payment Fallout

How to re-open the lines of communication between landlords/ladies and tenants in a reopened rental market

 

The domino effect of the Covid-19 storm is still yet to come since rental payment delays continue to pile up in a re-opened rental market.  There have been rental properties that are making late rent payments.

It is a problem for both landlords/ladies and renters when rental payments are made late.  What is sure is that not any of them would want to be in this kind of situation.  But, it is unfortunate this is happening with the Covid-19 exacerbating this situation. 

This week, we are going to e-work with the two sides of the rental process (a landlord/lady who is not receiving rent on time and a tenant who is delaying rent payment) in attempt to find ways out for a situation and circumstances which may be beyond the control of either of the two parties.

Our e-work will include the following areas of mutual and separate interests for the two:

√ Ways of re-opening communication channels between landlords/ladies and tenants during the rental payment crisis

√ The UK Government’s rules about eviction during the coronavirus pandemic crisis

√ Tenancy Deposit Schemes

√ Ways of reviewing and re-arranging rent payment schemes

√ Rent policy covers or insurances

√ Insolvency problems

Etc.

One could hope that through this e-working activity the following outcomes will be achieved:

√ Improvement of landlord/lady-tenant relationships

√ Safeguarding of vital communication channels between the two sides of the rental process

√ Reduction or elimination delays of rental payments

√ Potential removal of factors causing rental payment delays

√ Setting up clear targets and goals in terms of rental payment delays (e.g. maximum number of days or weeks or months acceptable by both parties)

√ Arrangement of workable and realistic rental payment schemes when tenants often falling behind their rents

√ Support tenants who are experiencing difficulties to pay rents with rent information and advice as the battle against the coronavirus pandemic continues

In brief, this week’s e-working activity will try to find ways of engaging the two sides of rental payment process by keeping the lines of effective and productive communication re-opened between them in a reopened rental market.

Need to maintain communication in a situation of Covid-19 rental payment delays and avoid rental payment fallout, why not e-work with Home Relief?

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, go to https://homerelief.co/property-search/

For weekly property news and updates, please read our weekly posts.

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout the year.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes

 

 

Restoration of disrupted lettings and rentals

Welcome to Home Relief Bulletin Board

Monday  01 June  2020

by the Property  Team

Post No. 143

Restoration of disrupted letting and rental activities by Covid-19

The coronavirus pandemic has affected the letting and rental patterns and habits.  Property viewings and inspections are not as it used to be.  The virtual way of dealing with property lettings and rentals has dramatically increased, to some extent, to the detriment of the physical aspects of the same activities.  The letting and rental worlds are now where remote working has become a norm.

Lettings and rentals are not exempted by Covid-19 disruption

The Covid-19 disruption has not exempted the normal lettings and rentals to the extent that one can talk about the new normal in lettings and rentals.  The disruption of the letting and rental processes by the coronavirus pandemic and the lockdown measures it has generated continue despite the recent reopening of the economy and the housing market.

This week, we will be e-working with both landlords/ladies and renters to restore the elements of these processes in which landlords/ladies and renters are directly involved or have a direct input.  The restoration or resetting of these elements will imply the understanding of letting and management activities in the new context of Covid-19 anti-measures and restrictions. 

For example: how to be a customer (landlord/lady) in a socially distancing and virtually letting environment or a tenant in increasingly virtual rental world?

What this week’s session hopes to achieve

One can hope that at the end of this week’s e-session, we will be able to repurpose our lines of property supplies and design lettings and rentals differently.  One could also hope that both landlords/ladies and renters will     

– Understand the coronavirus-induced letting and rental changing environment

– Adapt to the requirements of the coronavirus-led letting conditions

– Avoid misunderstanding between them (landlords/ladies and tenants) in matters such as viewings, inspections, etc.

– Improve the skills of landlords/ladies and tenants related to health and safety linked to Covid-19 outbreak

What results can be expected from this week’s activity

One could further expect that the following outcomes or results will be achieved:

√ Landlords/ladies and renters will become more and better informed about letting or renting in the era of Covid-19

√ Landlords/ladies and renters will stay safe and healthy when engaging in a letting or rental deal

√ Other persons or members of the public will be protected as well, especially when it is about group or family lettings/rentals

√ Landlords’/ladies’ will be protected and renters’ interests will be safeguarded

√ Safe and healthy relationships will be established in the future

√ Healthy maintenance of the properties let and managed

Etc.

Need help with your disrupted letting or rental plans, please e-work with Home Relief.

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, go to https://homerelief.co/property-search/

For weekly property news and updates, please read our weekly posts.

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout the year.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes

 

 

Lettings in a Re-opened Housing Market

Welcome to Home Relief Bulletin Board

Monday  25 May  2020

by the Property  Team

Post No. 142

 

Private Residential Property Lettings in a Re-opened Housing Market

How to restart lettings or reinstruct Home Relief in a re-opened housing market

As the housing market has been reopened and the lockdown has been gradually eased, some landlords/ladies may be thinking of restarting lettings or reinstructing us.

This week, we will be e-working with those landlords/ladies who are contemplating to let their properties, but do not know on which basis they can restart since the coronavirus pandemic is still constraining the economy.

This week’s e-work will be about exploring with them their property letting needs, requirements and expectations under the Covid-19 constraint.  In doing so, it is hoped the e-work will come up with some sort of a roadmap with them concerning private residential property lettings in a re-opened housing market.

The e-working activity will cover areas such as the following:

√ Covid-19 measures and restrictions in the context of a reopened housing market

√ Lettings plan and process under the circumstances of an economy in a partial lockdown

√ Property maintenance within the framework of protection against coronavirus pandemic

√ Property disinfection, decontamination and cleaning to get rid of the strains and traces of Covid-19

√ Alternative to physical aspects of lettings (e.g. virtual or online viewings versus in-person viewings)

√ Online rental payments and cover

√ Update on available resources and guidance about the coronavirus pandemic in the letting industry (e.g. self-care, health, security, post/mail, etc.)

One could hope that the week’s e-working activity will help …

√ To boost landlords/ladies confidence for instructing or lettings while improving their understanding of extra health and safety provision in the context of lettings in the time of Covid-19

√ To protect landlords/ladies from misinformation or lack of appropriate information regarding private residential property letting and management under the Covid-19 restraint

√ To safeguard landlords/ladies’ interests and investment while saving money as the economy gradually reopens

√ To avoid trouble tenancies and misunderstanding throughout this time of economic reopening

√ To reduce exposition to Covid-19 risk and associated risks of the moment

√ Above all, to bring peace of mind and security when giving instructions to let your property in time of the coronavirus pandemic

If you are a landlord/lady and want to give instructions to let but do not know what to do during this time of Covid-19, why not e-work with Home Relief?

Need to restart lettings under the Covid-19 constraint and anti-coronavirus measures, please e-work with Home Relief.

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, go to https://homerelief.co/property-search/

For weekly property news and updates, please read our weekly posts.

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout the year.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes

 

 

Back to Rental under Covid-19 Constraint

Welcome to Home Relief Bulletin Board

Monday  18 May  2020

by the Property  Team

Post No. 141

 

Back to Rental under Covid-19 Constraint

As the lockdown has started to be cautiously eased and the housing market has been reopened, Home Relief will be e-discussing with renters about their moving in and out plans.

Home Relief will be e-working with them on how to proceed with their rental plans under the constraint of Covid-19 and the conditions of anti-coronavirus measures and restrictions.  This e-discussion will be dealing with a number of points such as:

√ Understanding on how the rental industry will be operating under the new environment of Covid-19 and anti-coronavirus measures and restrictions

√ What to do and what not to do as renters during the lift of temporary freeze on home moving

√ How to adapt to new ways of working in the rental sector (e.g. virtual viewings, disinfection or cleaning of property before and after viewings)

√ How to prepare themselves as prospective tenants and restart renting within the boundaries of anti-coronavirus rules

√ New areas of safety and protection to consider in the new era of Covid-19

√ Understanding and maintenance of the socially distanced rules within the rental sector (e.g. to keep 2 meters apart during property viewings; staggered viewings, etc.)

√ (For those who want to move) Help them progress their plans to move as the housing market reopens

The e-discussion will enable those who want to rent to have the opportunity to e-discuss their plans in more details and register their rental needs.

Need to restart renting under the Covid-19 constraint and anti-coronavirus measures, please e-work with Home Relief.

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, go to https://homerelief.co/property-search/

For weekly property news and updates, please read our weekly posts.

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout the year.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes

 

 

Covid-19 Rental Fallout

Welcome to Home Relief Bulletin Board

Monday  11 May  2020

by the Property  Team

Post No. 140

 

 

Covid-19 Rental Fallout

The consequences of the Covid-19 Shock on renters have not yet been fully unveiled since the Covid-19 continues to claim its victims.

This week, we are e-working with renters to find out the rental consequences of Covid-19 on them.  We have planned this e-working activity in our Covid-19 rental campaign as we online came across a renter who asked us for advice.  She lost her job due to coronavirus and wanted to claim unemployment benefit and needed a tenancy agreement as a proof of address.

It is understood that she entered a verbal agreement with her their landlord/lady where she has been renting a property without any written tenancy agreement or a licence to rent.  She has asked us what can she do since she has got a tenancy agreement?

Although verbal contracts can be enforceable in the court of laws, it is recommended to private landlords/ladies letting their properties by themselves to provide a professional written and reviewed tenancy agreement. 

It is not safe for both parties (landlord/lady and tenant) to have verbal agreements or no formal tenancy agreements or even adapted tenancy agreements.   A professionally written and reviewed tenancy agreement protects both contractual parties.

There could be some numbers of vulnerable renters who are in a similar situation and facing the same kind of problems.  With the impact of Covid-19, they may be struggling to sort out their problems without knowing there is always a way out to this kind of problems. 

There are available resources online regarding the Covid-19 rental guidance and the rental sector generally.  However, it is not sure whether or not these resources will respond to specific issues that some vulnerable and unaware renters are facing during this difficult time of the coronavirus pandemic.  It is not also certain if all the renters will understand these online resources and materials.

To reduce the rental fallout that renters may have due to the Covid-19 impact, Home Relief will be e-working with them by discussing their individual rental cases where there is  a fallout.  Since one cannot wait until the end of Covid-19, Home Relief will be e-working with renters on the consequences of Covid-19 on their rental situation.

This e-working together about the impacts of Covid-19 on renters could lead to problem-solving steps where, if requested or needed, legal expertise and rental industry professionalism can be sought on behalf of renters.

Need to explore possible rental leads and solutions to the problem posed by the Covid-19 on your rental situation, please e-work with Home Relief.

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, go to https://homerelief.co/property-search/

For weekly property news and updates, please read our weekly posts.

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout the year.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes

 

 

Covid-19 and Private Landlords’/ladies’ Property Portfolio

Welcome to Home Relief Bulletin Board

Monday  04 May  2020

by the Property  Team

Post No. 139

 

 

Covid-19 and Private Landlords’/ladies’ Property Portfolio

Home Relief’s e-working programme to keep landlords/ladies and renters engaged during the Covid-19 will be dealing this week with the impact of Covid-19 on property portfolio.  We will be discussing about the collection of properties and financial securities attached to these properties that landlords/ladies may be holding in their portfolio.

When landlords/ladies build a property portfolio, they will have a number of buy to let investment opportunities with the aim of generating an optimum return on investment with many properties.  They will try to achieve the goals of meeting capital growth returns or rental yields or both.

There are many types of landlords/ladies in the private rental market.  In the context of this week’s e-work about the Covid-19, we will be dealing with small landlords/ladies who have more than just one property, that is to say those who have between 2 and 5 rental properties in their property portfolio. 

In our e-work, we will try to find out how the Covid-19 has impacted their property portfolio.  In other words, we shall together with them try to know how the achievement of expected return from a varied portfolio of properties and their related securities and risks, has been affected by the Covid-19 outbreak.

Through our e-work, one could hope the following points will be raised:

√ How landlords/ladies have spread the risk amongst the different securities or properties in their portfolio

√ The level of risk incurred so far for their expected return as a result of Covid-19

√ How their selection in their portfolio is meeting the goals of optimum capital growth and rental yields

√ Whether or not the capital value associated with their properties have been appreciated or depreciated due to the coronavirus impact

√ Property management under the constraints of anti-coronavirus measures

√ Essential property maintenance during the Covid-19 time

√ Performance about the return on their property investment

√ Property running expenses versus incoming rents during the Covid-19 period

√ How Covid-19 has affected the relationships between landlords/ladies and their tenants, etc.

One could hope that as outcome from this e-work, landlords/ladies will know where they stand in terms of their property portfolio during this difficult time of the Coronavirus pandemic.

Landlords/ladies will be able to discuss their individual cases or portfolios.  Where the need arises or the request will be made, landlords/ladies will be referred to financial advisors or property portfolio specialists to look into their matter.  However, due to the lockdown we cannot guarantee that this type of portfolio advisory support will be currently available.

Need to discuss your property portfolio, please e-work with Home Relief.

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, go to https://homerelief.co/property-search/

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Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout the year.

Many thanks!

Home Relief – freelance e-property people dealing with affordable homes