• 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.

Other News
Quotation Mark Quotation Mark
  • It is great to know that my property is managed by a reliable team; it is quite simply a huge relief to know that they swiftly and responsibly take care of everything regarding the property and I can thoroughly recommend their services.

    Amy M. Happy Landlord
  • This is our first let with Rent Happily. We have used numerous letting agents in the past and we are amazed by how much better in every department this agency is. The level of organisation and efficiency is fantastic. They really know their stuff and are on top of all the legal, financial and practical details. Their systems work and they are responsive to concerns and queries. The tenant selection process is based on finding a good fit for the landlord, the tenant and the property. The commitment to treating both tenant and landlord fairly is something we far prefer given the lack of ethical standard commonly seen in this business. This approach really takes the stress out of letting out a property. These are qualities we did never expected to find in this business and so we feel very lucky to have found Rent Happily.

    Margot Y. Happy Landlord
  • 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
  • Thanks for your wonderful job you are doing over there!

    Atinsola B. Happy Landlord
  • 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
  • I have only ever had good experiences with Rent Happily. The team are friendly and helpful, they treat us with respect and I've always felt like they value us as tenants. Not something I've come to expect from an estate agent! Thanks for being the kind of estate agent I am happy to write a testimonial for!

    Zoe R. Happy Tenant