fbpx
Previous
Next

Advertisement Banner

Landlords slash rents to ensure properties stay occupied

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
unpacked boxes in middle of room

It’s not an easy time for landlords currently. If you are a landlord, did you slash rents in 2020?Pressured by your tenant who said they MAY MOVE OUT? Many friends said they did; slash rents. This ranges from 30% to 50%. Number of month ranges from 3 months or higher. Imagine the landlord would now have the fork out money since their rental could no longer cover monthly repayment.

Some said they even gave a few months of free rental to their tenants too. Perhaps it’s important to let everyone know that they are not alone. Landlords in London’s most expensive areas were also facing pressure. Many landlords slash their rents to rent out their units or they may see their properties stay unoccupied.

slash rents
Photo by Pierre Blaché on Pexels.com

Article in nst.com.my We could see in the image below that London’s high-end sales market is not positive. In fact the numbers are usually below zero (means it’s negative).

Marcus Dixon, head of research at LonRes said, “It’s probably going to be another few months of accepting lower rents than maybe you’ve historically got. It’s just about the need for landlords to ride this out.”

The image below shows the typical average discount off initial asking rent.

Do read the article in full here: Article in nst.com.my

Indeed, it’s a time to ride it out

It’s not just landlords. Even home owners may be facing pressure of paying their mortgages if their company did not do well and they were asked to accept lower pay. It’s everyone, it’s many businesses. It’s across many industries even if there are industries which are doing well. Indeed, this is an unprecedented time and no one could anticipate how long the effects from the COVID-19 would last. This is really the time which everyone would need to ride it out, somehow.

Please LIKE kopiandproperty.com FB page to get daily updates about the property market beyond kopiandproperty.com articles. Else, follow me on Twitter here.

Love to be updated on all investment news? Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)

Next suggested article: Top 10 most searched rental areas in Malaysia

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

We love to hear from you (Facebook Comment)

LIKE us for property news update, FREE.

Previous
Next

Advertisement Banner

kopiandproperty.com

kopiandproperty.com

kopiandproperty.com is everything about property related writings and news. Enjoy reading with a latte.
Previous
Next

Advertisement Banner

LIKE us for property news update, FREE.

Property investment news everyday? Subscribe for free!

An article a day, keeps updated all the way.

Join 1,528 other subscribers

Property investment news everyday?

An article a day, keeps updated all the way. Subscribe for free!

join the family

Like us for daily investment news and more

Hit the like

%d bloggers like this: