Just over a third of buy-to-let landlords have had a request for a payment holiday due to the Covid-19 pandemic, reveals survey

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26th August 2020 16:33 - Housing

Just over a third of buy-to-let landlords have had a request for a payment holiday due to the Covid-19 pandemic: A survey of landlords who rent out their buy-to-let properties has found that just over a third have had a request from tenants for a payment holiday or rent reduction since the coronavirus pandemic began. 

The survey, conducted by Vesta and Property Tribes found that of the 157 buy-to-let landlords polled, just 35% had experienced tentants asking for a holiday or reduction because of Covid-19. 

Polling respondents between June 23 and August 21, the survey found that between March and June, three-quarters of participants had  received 90% of the rent they were due from tenants. The number of landlords receiving less than half the rent du in this period was very low, with just 3% saying they had seen their rental income decline by more than 50%.

The research also found that a third of landlords surveyed have tenants in arrears - which is higher than the number in previous months during lockdown.

When asked about the price they charge to rent their properties, almost two-thirds (66%) said they expect their rentals to stay the same price or go up in the next year, despite the current crisis. 

And when it comes to occupancy, four-fifths said that 90% of their rental properties currently have tenants. 

Russell Gould, chief executive of Vesta, said: “The results of this survey and the actions taken demonstrate that the vast majority of landlords have worked with, empathised with and have supported their tenants during the pandemic.”


 


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