Landlord
The Importance of Close Management of Rent Payment Holidays
While it’s great that the UK Government is proving to be supportive and encouraging towards financial forbearance during the Covid-19 pandemic, it’s essential that landlords and letting agents manage the situation carefully to avoid difficulties in the future.
Where rent payment holidays are agreed or other informal changes between landlords and tenants arise, a system must be put in place to help closely monitor, manage and record exactly what should be happening right now. It’s also important to have an eye to the future and have clarity on when and how any payment holidays or temporary rent reductions are repaid.