What the lockdown means for landlords

With another national lockdown, 2021 hasn’t exactly got off to the start we had hoped. Though it’s not all doom and gloom, as asides two vaccines being rolled out, the government has confirmed that, unlike lockdown 1.0, the housing market will remain open.

As always, landlords should remain vigilant about regulations and legislation affecting the lettings market to ensure they are compliant with what seems to be constantly evolving changes.

So, what exactly does lockdown 3.0 mean for landlords.

The housing market is open

The government announced that the housing market will stay open during the current lockdown. Subsequently tenants and homeowners are still able to move during this third national lockdown. Estate and letting agents, construction sites, removal companies and tradespeople are also able to work, providing they adhere to health and safety protocol.

This is good news for landlords as it means they can continue their responsibilities, such as moving new tenants into properties and carrying out maintenance work on rental homes without disruption.

Six months’ notice period

Since early in the pandemic, protections were put in place for tenants, including a ban on evictions. Landlords should be aware that they cannot begin eviction proceedings without giving tenants a minimum of six months’ notice, providing the tenant is no more than six months behind with the rent.

Share government advice with tenants

Landlords are being urged to share government advice about what to do if someone develops cCovid-19 symptoms. The stay at home guidance for those with possible or confirmed Covid-19 infection can be found here.

There are also specific government guidelines that landlords should point tenants to who are living in houses in multiple occupation (HMOs).

Have the right insurance in place

With the unpredictable and constantly changing nature of the Covid-19 pandemic and subsequent evolving legislation, it’s more important than ever that landlords have the right insurance in place to protect their investment and tenants during these difficult times.

Nelson Policies at Lloyd’s offers residential property owners insurance that offers improved loss of rent coverage.

Get in contact with the residential division for more information about our residential insurance.

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