Important Information for Landlords
Whilst businesses are still recovering from the impact of the Pandemic, we are now facing further risks to rental payments with increasing costs of living.
We are all aware that energy prices alone are increasing exponentially, creating financial difficulties for many tenants.
With inflation running at 9%, a 40 year record high and set to increase up to 11% later this year, it is expected that some tenants will be under increased financial pressures and therefore rent arrears are more likely to occur.
Sign up to know about the benefits and Price of rent guarantee programme
ENERGY
The energy crisis is one of the biggest contributors to our outgoings, with gas and electricity prices increasing by 54% in April, and confirmation that further rises are to follow later in the year.
FUEL
The cost of fuel has increased to record highs, the cost of the weekly food shop is increasing along with clothing, and transport and pretty much any services your tenants need.
TAXES
Increased taxes from April 2022 have resulted in reduced income for many, increasing interest rates are adding to the problem.
What you need to do
If you do not want this protection as part of your management service or you already have it elsewhere, please tell us by 10th November 2022 — simply send us an email or give us a call: 01582 661112 / michael@robinsons-estates.co.uk.
If you want to benefit from this protection and our service, you do not need to take any action. From September a cost of £25+VAT will be deducted from the rent. This cost is usually fully tax deductible.