Half Of Private Landlords Cut Rent In 2020

Almost half (46%) of landlords reduced monthly rent payments for their tenants because of the pandemic, according to research from Shawbrook Bank. In total, Shawbrook found that 28% of landlords gave their tenants a full rent payment holiday; a period of up to three months where tenants were not liable to pay any rent. Additionally, 18% offered a rent reduction; a period where tenants paid a lower level of rent as agreed with their landlord. Those landlords that gave their tenants a payment holiday estimated they lost £7,500 on average, while rent holidays cost landlords £6,500 on average. Read more on the Mortgage Introducer website.

https://www.mortgageintroducer.com/shawbrook-half-private-landlords-cut-rent-2020/