• 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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  • 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
  • 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
  • Thanks for your wonderful job you are doing over there!

    Atinsola B. Happy Landlord
  • I have been a tenant with Rent Happily for five years; they have always been quick efficient and pleased to affect any necessary repairs or help whenever needed. An extremely professional and understanding team, they are friendly and easy to communicate with.

    Naomi F. 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
  • After nearly three happy years renting this house, I now have to leave. I'm so thankful for this time living at the house; absolutely everything has been positive about this experience. Thanks a lot for everything!

    Damaris M. Happy Tenant