Six of the UK’s leading property industry organisations have clubbed together to offer landlords and tenants advice on how to overcome the looming rent arrears crisis following the Covid pandemic.
These are the National Residential Landlords Association, Chartered Institute of Housing, Property Redress Scheme, My Deposits, the Tenancy Deposit Scheme and ARLA Propertymark.
This includes rent suspensions, reductions and deferrals guidance as well as a plethora of other strategies to help tenants through the crisis, which has been published online.
Called Arrears Management and Coronavirus, it offers both the sides in rent arrears negotiations practical advice on which options are available to them.
It also includes advice and guidance on how landlords can apply to have Universal Credit payments made directly to them, and for a mortgage holiday if their tenants are one of the 10% who, so far, have been unable to pay their rent since the pandemic kicked off.
THe guidance also urges landlords to offer tenants information on where to get financial help if they are struggling to pay their household bills, including their rent.
In a joint statement, the six organisations tsay:
“COVID-19 has posed significant challenges for both tenants and landlords. As a group we are committed to doing everything possible to sustain tenancies both through and beyond this period of crisis.
“The guidance being launched today has an important role to play in achieving this and we encourage all tenants and landlords to work through it together in a spirit of positive co-operation.”