by Denzel
10:05 AM, 16th September 2024, About 2 months ago 11
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My tenant’s been paying me £1,200 a month, but the market rent now is £1,500 – and with my mortgage rates going up, it’s hard. On top of that, he owes me £7,000 in rental arrears.
You’re probably wondering, why haven’t I just increased the rent, evicted him, or gone for possession? Well, the truth is, while he’s been living in my property, he’s suffered two heart attacks and is constantly in and out of the hospital.
The man’s already on the edge, and I don’t want to be the one to push him over. I can’t have that on my conscience.
But now, the Renters’ Rights Bill is coming in, and I’m scared. What does this mean for me? I’m already subsidising my tenant, and I can’t afford to keep doing this.
What’s going to happen next? I honestly don’t know.
This isn’t some hypothetical situation – this is a real conversation I had with a landlord client just this morning. This is not rhetoric or a fancy story. This is real life.
And he’s not alone. Every day, I’m talking to landlords, tenants, letting agents – and the situation just keeps getting worse.
The housing crisis isn’t about quick fixes or overnight solutions. It’s about helping real people who are facing real struggles.
If you’ve been following me for a while, you already know what I told him next – and I’ll keep saying it.
Eviction or selling your home isn’t the only option! Here’s what you can do if you’re a landlord, you want to keep your tenant, but financially, you can’t keep going like this:
Present your tenant as at risk of homelessness to your local council. You’ll need either a Section 21 or Section 8 notice in place.
State why they’re about to become homeless: either they’ve fallen into arrears, or they can’t afford the rent top-up.
The council has to step in to keep that tenant in the property and prevent homelessness. This could be in the form of payments to cover the rent shortfall or a lump sum to cover the arrears.
But it’s critical you act now, while you still can. You don’t have to sell, and you don’t have to evict. There are things you can do to keep renting sustainably and prevent your tenant from becoming homeless. Don’t delay – act today.
You can do this yourself, or my team can help you through the process. And don’t worry, this is a free service, so fill in your details in the form below for a non-obligatory call.
My name’s Denzel, the CEO of Social Housing Options. Remember, There are many options available to you… Even if your situation does look bleak!
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Sign Up11:22 AM, 17th September 2024, About 2 months ago
Reply to the comment left by GlanACC at 17/09/2024 - 09:36
yes but they they can't deny they are not aware of the implications this is having and if it is one of these newbie Labour MP's then they need their blood eyes opening!