Unusual though it may be, a local authority is reaching out to landlords who may be struggling with their finances in the current cost of living crisis.
Copeland council in Cumbria says it’sseeing instances of private rental evictions due to landlords being unable to afford their increasing monthly mortgage payments. It encourages tenants facing eviction to get in touch early, so the best possible support can be provided.
The council says it offers a tenancy support service to those that have experienced homelessness, to ensure they gain the skills to manage a tenancy and run a home. Alongside this support, they offer a series of financial incentives, should private landlords be willing to support housing Copeland’s residents.
The incentives include rent paid in advance, rent guarantees, support for damages incurred, and direct payments to landlords help ensure that tenancies are sustainable.
In addition to the tenancy management service, the council also supports landlords to bring empty properties back into use.
Local mayor Mike Starkie says: “As mortgage interest rates increase landlords may struggle to pay their monthly bills and potentially sell their property. We’d encourage any tenants facing eviction, or struggling to make their own payments, to get in touch if they have the potential to become homeless.
“The sooner we know about the issues, the sooner we can help.
“Our fantastic team provide support to our most vulnerable residents and our officers are on hand to help those that are struggling. We also operate an emergency homelessness service out of hours should residents find themselves with nowhere to go on evenings and weekends.”
The council is asking any landlords with available properties to get in touch with its housing team at housing.options@copeland.gov.uk
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We'll take that property off you , aren't we nice ??
For nothing obviously
If mortgage rates hit 6% many landlords who bought with a mortgage are going to struggle to make any money at all. This will be another nail in the coffin of the PRS leaving would be tenants with nowhere to live. :(
No 'if' about it 6% is where they're going highly leveraged landlords will either sell or be made bankrupt, either way not good for tenants
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