Rent Holiday Explained

The Government has put emergency legislation in place to protect tenants and landlords affected by coronavirus.

• A suspension of new evictions from social or private rented accommodation whilst the national emergency is taking place.
• No new applications to the courts for possession orders during the crisis.
• 3 months mortgage payment holiday to protect landlords this also includes Buy to Let Mortgage.
• It is required that landlords should pass this benefit onto tenants.

THIS DOES NOT MEAN YOU DO NOT HAVE TO PAY YOUR RENT, THIS MEANS THAT YOU ARE IN ARREARS THAT WILL NEED TO BE REPAID.  The same as landlords will have to make up any mortgage arrears.

The emergency legislation will be taken forward as an urgent priority that no landlord will be able to evict tenants for at least 3 months and whilst the Government recognises these additional pressures will also give landlords room to help when tenants are experiencing financial difficulties due to the coronavirus emergency.

Landlords and tenants after this period will be expected to work together to produce an affordable repayment plan considering individual tenant’s circumstances.

The Government will issue guidance to landlords on showing compassion and allowing tenants to stay in their home due to this difficult time.  They will also offer the payment holidays to those who have benefitted from a government backed Help to Buy equity loan.