We are living in unprecedented times, and you are no doubt being barraged with information, and have many things to worry about, so we will be very brief.
Rest assured that LongView is doing everything we can to ensure business continuity and that your investment property is managed in the professional manner you expect. We have invested significantly in systems, processes and training and are confident we will be able to continue most of our operations remotely should that be required.
We are thinking through many potential issues and will communicate with you as and when necessary. Please contact us now if you have any specific concerns.
The one thing we strongly recommend you focus on immediately, is to:
REVIEW YOUR LANDLORD INSURANCE NOW.
There is an increased risk that your tenant will not be able to pay the rent as a consequence of corona virus impacting upon their employment and/or personal health.
Good landlord insurance policies provide you with protection against loss of rental income. You should review your policy to ensure that it is both current and that it provides cover for loss of rental income.
Policies provided by our recommended insurer EBM provide such cover as do those offered by some other insurers, but many do not. If you are unsure whether your policy provides adequate coverage we would be pleased to review it for you. If you want to arrange cover we can put this in place for you.
(Note we do not receive any remuneration from EBM – as a client you get the benefit of our scale in a reduced insurance premium for cover taken with them as a LongView client.)
If you are one of our Guaranteed Rent landlords, you are already protected from tenants not paying the rent even in these most uncertain times. We will continue to pay the guaranteed amount whether or not your tenant pays the rent to us on time or at all. Your guaranteed rental contract also includes appropriate landlord insurance to provide cover against tenant rent arrears and we will utilise this insurance if it becomes necessary to utilise it to recover any rent the tenant is unable to pay.
If you are interested in converting your management to a Guaranteed Rent contract, please call us urgently.
We will get through this crisis together and LongView will continue to take all steps possible protect the health and welfare of you, us and our communities to the maximum extent possible while also ensuring business continuity to the maximum extent possible.
Please contact us should you have any specific questions.
We wish you, your family and friends all the best as we work through the challenges the corona virus pandemic causes and that you stay safe and healthy.