Coronavirus and your property

by on 11th March 2020

Perhaps you’re tired of reading about Coronavirus or are utterly absorbed in its spread? But one thing is for certain – it’s impacting businesses, events, retail and the property market at the moment.

We posted an article on our Facebook page yesterday that had high engagement and it led us to think about creating a blog post on the very subject.

The first piece of advice is reasonable – make sure precautions are proportionate. There’s billions of people on Earth at risk from the infection and there’s a need for a recognition that you don’t go over the top, like many hoarding shoppers have …

So what are the obvious steps?

  1. Wash hands thoroughly – soap will be perfectly fine and you can substitute Boris Johnso’s rendition of a dual run of Happy Birthday with any suitable song – perhaps avoid Bohemian Rhapsody though if you want to save soap and water.
  2. Follow guidelines on self-isolation. Tenants may become ill and lose income for a short time so landlords need to be mindful of arrears.
  3. HMOs carry a higher risk – sound advice is for tenants to use their own bedrooms more and reduce time in communal areas.  Extra sanitary precautions need to be implemented in bathrooms and kitchens, where shared.

The most important summative advice though is this – and it’s largely common sense:

Where there is low risk, ensuring you and your tenants, understand and follow advice on hygiene – basically wash hands thoroughly with soap and water, cough into tissues and dispose, wipe down surfaces and trying to avoid touching your face.

Finally, TSB and RBS are sympathetic to home owners and Buy to Let landlords:

“We understand that there may be circumstances where a personal customer may fall into financial difficulty as a result of the impacts of Coronavirus, for instance, loss of income.

“We will look to understand each customer’s situation on a case-by-case basis and can offer a number of options to help them manage their finances. We would encourage any customer experiencing financial difficulty to get in touch with us.”

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