50% of landlords have lost income how can you tackle this?
As the pandemic continues to impact our everyday lives, new research indicates that 50% of landlords have lost rental income.
A third of landlords have expressed the desire to sell more properties or potentially leave the market entirely. NRLA survey conducted stated that over 56% had lost rental income, with 12% having lost more than 20% of that income.
59% of landlords lost in excess of £1,000 with a further 22% lost income in excess of £5,000 with losses continuing to increase during these troubled times.
NRLA chief executive Ben Beadle says: “Although most landlords have done everything they can to help tenants affected as a result of the pandemic, we have now reached the end of what they are able to do.
“Simply continuing to ban repossessions just means that tenants struggling to pay their rent are accumulating more debt reducing the chances that they will be able to pay it off. This ultimately will put more renters at risk of losing their homes.
At Mecs Property we offer a rent guarantee scheme that provides guaranteed income which gives our landlords that peace of mind during troubled times.
Give us a call on 0121 681 6327 or email us info@mecsproperty.co.uk