Late rent payment request
With the closure of many businesses and people losing their jobs all over the place we are trying to do what we can to assist tenants. Due to the nature of our business are unable to pause rent payments because every single underlying bill is still payable, payroll is payable, the leases on the vehicles are payable, interest payments on loands are payable, and most importantly the ground rent is still payable. However we would like to assist tenants in applying for universal credit, and understanding the risks within out portoflio.
We absolutely must receive the rents as we have to pay our suppliers and fillful the contractual obligations. We can allow people to build up a small debt on the account (perhaps the differene between the universal credit and their rent – depending on the difference) but this debt will be payable in the future. This whole thing will blow over in the next 1-2 months at most. So please stick with us, work with us, and pay as much as you can. If you have to dig into your savings it is better you do that because your rent debt will not be written-off. When this blows over you will have to it or if Kingdom Houses goes into receivership (bankruptcy) then those debts gets sold onto debt collectors who are legally allowed to add up to 30% fees on top for collection plus charge interest. Once the dust settles you will have to pay, it is better to pay now if you can.
This whole thing is going to blow over in hopefully less than 1 month. So right now is the time to dig deep and find the way to pay your most important bill which is the rent. If there is any other way we can assist tenants we will.
All of this only applies to rents due from the 5th of April onwards. As the rent for March was payable on the 5th of March which predates the whole covid issue.