The coronavirus crisis has decreased the Rental Market, as tenants struggle to pay bills and Landlords fear financial ruin.
Property owners are struggling with unexpected costs and are concerned that when the outbreak is over they may be left with rental homes that cannot legally be let.
Unfortunately, according to research as many as 80,000 landlords may be forced to quit the sector.
One in five private tenants face or already have lost their jobs. The housing charity (shelter), have started that the g sale in the social security system could mean that renters could be in financial trouble, after this long pandemic.
An Economics and Business Research state that the issues regarding the rental sector, could potentially be the ‘catalyst of a housing crash’. Additionally, there is 18% less stock than 2019, and there are 17% fewer new rentals entering the Market.
In the UK, London is suffering the most with this. The supply of newly available rental properties are down by 23%.
Currently, all Landlords with vacant or properties which are soon to be empty, they cannot let these to new tenants. They will incur Council Tax and Utility Bills, while empty.
At the moment, the rental market has been put on hold as all Landlords with empty properties are not permitted to Let any property, due to the current occurring Pandemic. This has unfortunately caused problems to not only the renters, but also the Landlords which are also crashing economically.
During this uncertainty and difficult time,here at Kilnstone Property we want to help landlords who are struggling with their property/properties portfolio. Whether it’s to help you raise finance, or remortgage your property, we are here for you!
Kilnstone Property have secured long term contracts between 3-5 years across the UK, therefore if you have a property/properties that are costing you money rather than making you money you can drop us a message and see how we can help you!
Please note Terms and conditions apply for the 3-5 year contracts, please message or call us on 01293 278312 to see how we can help you today!
Email: [email protected]
Phone: 01293 278312