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Hello looking for some advice. I have a flat in London rented to a couple. The tenant contacted me today regarding his partner being made redundant and asked if there was something that I could do on rent. I don’t have a mortgage on the property. I wanted to ask what people are doing in this situation ? 

The current rent is 1700pcm. I was contemplating offering them a ‘rent holiday’ so that they pay 14000pcm instead for 3 months. Once the tenants partner finds another role it can return to the 1700pcm. They would then have 6 months to top up the rental payments to make up the £900 they missed. I’m not sure if this is going to help enough and what other landlords are offering! Bit lost here so any other ideas are very welcome. 

Thanks very much!

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Hi Camilla,

I'd probably say it depends on the tenants. If they have been there a long time and always been good tenants I would definitely be looking to help them out, and instead of plucking a number our of the air I'd speak to them and work something that is realistic in terms of what is payable and how it can be made up. If they're good tenants theyll be honest, they'll respect you for being pragmatic and empathetic and in turn repay you what is owed and stay there. 

You've also got to be realistic in respect of what other options do you have? It's better to work with them and on a win-win solution.

You may also want to point them in the direction of what help they can get and what they're due in redundancy. If they're getting a big pay out they may not need any financial help. If they're on a low income then theyll need advice on what help they can get by using online calcs like turn2us or entitled to.... the more you can help maximise their income then the better it is for you both and the relationship. If they have other creditors I would encourage them to speak to them first and if they have no joy then tell them to speak to someone like Stepchange who offer free and impartial advice and can negotiate with other creditors for them.

Hope this helps.

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Very useful, thanks and yes I agree that speaking to them directly would be better and help me figure out what they need to get through this. 

Very useful links as well to point out to them for where they can get help in their situation. 

We all need to do what we can to help each other through this! 

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