• Rent Payments Nearly Back To Normal

Rent Payments Nearly Back To Normal

30 Sep 2020

The lockdown has hit tenants hard, and many have lost their job or seen their income dwindle, dealing a blow to many landlords in the process. Since March 2020, almost a quarter of landlords in England have lost some rent due to the pandemic. However, the first shock wave is now receding in our agency, as most tenants are coming back to normal and payments of rent have resumed to levels close to how they were before the crisis.

At Rent Happily, a third of the tenants we work with have faced income reduction and couldn’t afford to pay the full rent during lockdown. In order to prevent rent arrears building up, we contacted each landlord and worked together to devise a tailor-made solution for each situation.  The struggling tenants have been granted either a rent relief funded by a mortgage holiday, as explained in our previous article, a rent reduction, or a combination of both. As a result, all tenants kept the roof securely over their head, and no rent arrears built up in the meantime, whilst ensuring a steady income for the landlords.

After 5 months of turmoil, the rental income for landlords is now back to normal in 90% of the cases, and we are confident the full rents will be restored within a few months. We are very pleased with this improvement: it is excellent news for the tenants and a great relief to their landlords. In most cases, the tenants themselves have contacted us to express their desire to resume paying rent as normal as soon as they could afford to do so, and the gratitude to their landlords has been boundless in all cases.

This crisis has pushed the boundaries of what was normally expected from tenants and landlords, and the bond this has created between them is a strong and healthy one, which is a great satisfaction. Perhaps one could describe this as what sailors feel when reaching the harbour after a heavy storm, with all the men safe on board.

Rent Happily would like to give a heartfelt thank you to all landlords who stepped in when their help was needed, and for sharing this boat with us; it is a privilege working with you all.

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  • Rent Happily has been managing our properties for seven years now. As a team they are fantastic, whether liaising with tenants, keeping up to date with any maintenance when needed, or making sure that we always comply with any new regulations. When we have tenant changeovers, they have been very quick to find new tenants so any void periods have been minimal. I thoroughly recommend their property management services.

    Caryl and Becky W. Happy Landlords
  • The team at Rent Happily is a pleasure to work with, they are easy to get hold of if need be and prompt to resolve problems. Thank you.

    Wayne A. Happy Tenant
  • As soon as we contacted Rent Happily we had the clear impression they were different from the other agencies we've tried. The team has been incredibly helpful to find the perfect house for our little family, and, since then, they've been there for us every time we needed them. We can't recommend them enough.

    Nico and Gosia S. Happy Tenants
  • We have rented a property with Rent Happily for 6+ years now. They have always been very helpful and if there are any issues they are happy to get the problem fixed, in the quickest, fairest manner. The team are very friendly and approachable, you couldn't ask for more.

    Tom C. Happy Tenant
  • We have been extremely impressed with the service offered by Rent Happily; they're very prompt and professional when dealing with us or with the tenants and ensuring that we are adhering to regulations. I really wanted to emphasise how great you guys are without going OTT. Surely the best letting agency in bristol!

    Angela and Leroy G. Happy Landlords
  • I have let through Rent Happily for a few years now and can honestly say they are the best letting agency I've used. They are friendly, reasonable and incredibly helpful. I highly recommend them.

    Niamh W. Happy Tenant