Coronavirus: what landlords need to know
As part of their ongoing response to the coronavirus pandemic, the Government has now published the Coronavirus Bill 2020. This bill will require a number of temporary changes to the way the private rented sector operates.
The package of reforms to help renters announced are –
- extending notice periods for repossession for the duration of the emergency. This is a substantial change from the original proposal to suspend all repossessions.
- widening the pre-action protocol for social landlords to include private rented sector landlords
- ensuring that buy-to-let lenders will offer a mortgage holiday of up to three months for private landlords whose tenants have been impacted by the coronavirus. This is on the understanding that landlords will be expected to offer a similar rent holiday to their tenants.
HMRC are also deferring self assessment payment on accounts from 31 July 2020 to 31 Jan 2021 for the self employed.
Advice for landlords
The Government advice around coronavirus is continuing to develop and extend into more areas of the private rented sector.