I own a flat without a mortgage (lucky, I know) with a very good tenant, however the rent is my only income as I’m retired and the tenant faces loss of income due to coronavirus. Is any financial help available to me if my rental income reduces or stops in the current climate?
Your tenant should be looking into the measures announced by the govt yesterday re. the subsidy of 80% of wages and immediate upfront payment of Universal Credit if entitled
There does not seem to be any assistance for landlords who are mortgage free
there never will be any help either to landlords or self employed its always been like that… I have a few mortgage free properties and have been self emplyed for 50 years NEVER drawn the dole now have a state pension which is my first lot of help. Deferment of paying a tax is not help
Too true, Colin. My husband is self employed (construction industry) If we go into lockdown he will have no pay. He has never had one penny given to him for anything.
i am a joiner so know exactly what you mean
I too own mortgage free tenanted properties x5. Additional to the rental income, I recieve a state pension, and after working for 41yrs, a small £450 PCM works penson.
If all my working tenats are laid off and fail to claim/get paid their 80% wages, then fail to pay their rent, my family of 4 will be a lot worse off than a family of 4 who claim benefits.