60 Per cent of Landlords Have Lost Income as a Result of Covid
This ugly fact came out in the dailymail news today. Are you one of these landlords? Have you had working tenants not pay you and worse you can not evict? 60% means the majority of landlords lost money due to non paying working tenants.
Social housing landlords have not. We house social tenants that are backed by the govt. We have no voids… no managment and maintenance is covered up to 5,000 per year unless structural.
Basically Landlords have not faired all that well during Covid.
With most evictions banned until May 31 to protect hard-hit renters, landlords have few options if tenants stop paying their rent.
Around 60 per cent of landlords have lost income as a result of the pandemic, according to research by the National Residential Landlords Association.
Home loans for buy-to-let properties have also become more expensive in the past year.
Average interest rates for two-year and five-year deals have soared from 2.77 per cent to 3.05 per cent and 3.24 per cent to 3.41 per cent respectively.