A staggering 15 local authority in London are leading the way with 1 eviction for every 62 residential properties. This is almost double the average for England which is currently at 1 eviction for every 115 properties.
London is the worst-hit region, with declining rents by 7.9%.
To deal with the period of COVID-19, some landlords in London have switched from short-term lets to long-term lettings. This is due to the loss of tourism and demand for short lets.
UK landlords have been financially challenged by this Coronavirus pandemic.
A blogger recently said: “Most landlords feel a crime scene is unfolding as UK landlords, probably feel like they have been robbed in broad daylight and left for dead with the blessings of our Government.”
Private landlords are worse hit in London because higher property prices lead to a tendency for lower net rental yields and in many cases, the removal of interest relief is not helping either.
Many private landlords rely on the rental income to complement their pension, particularly in London, where the cost of living is the highest in the UK.
Most landlords are willing to work with tenants, but if you ignore the landlord, thinking it’s going to go away, it’s not.
Mr Sajjad Ahmad, the CEO of the British Landlords Association, said: “it is the utter bad behaviour of tenants rather than landlords that should concern people now. What could be greedier than withholding rent that you have the ability to pay?” He said.
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Author: Simon Hampton [email protected]
Date: 15th of December 2020