What does 2021 have in store for landlords?
2021 is going to be an important year for landlords for a couple of reasons. First of all, 2021 is going to start with the UK officially coming out of the European Union. A no-deal Brexit is currently still on the cards, unless we are able to come to an agreement before the 1st January 2021 – in the next 38 days.
Of course, the other issue that will be hanging over landlords in 2021 is the global Coronavirus pandemic and the factors that stem from that. One of which, @NRLAssociation has picked up on. That’s the hot news that “The Government has extended the #GreenHomesGrant until March 2022…”
With so many factors putting a huge question mark over 2021 for landlords, it looks like it might be a year of a few ups and downs.
Here’s the lowdown on what 2021 might have in-store for landlords.
1. Covid-19
This is one of the biggest factors affecting landlords, tenants and local authorities for the year ahead. Covid-19 has of course changed everyone’s way of life.
For landlords, Covid has meant that we need to be aware of several factors, “In relation to property management, financial support and minimising the risk to health.”
To find out more about the ways in which Covid is changing things for landlords find out more on the government’s website as well as on the website for the National Residential Landlords Association.
2. Brexit
Like Covid-19, Brexit is going to change the way we have all been living and operating. As we are still in a situation of complete uncertainty about what life will be like once we come out of the EU on 1st January 2021, we are still very much in the same situation as we were a few years ago.
Although, the government is of course preparing for a no-deal Brexit given that Britain will be leaving the European Union on 1st January 2021.
To stay up to date with the guidance and factors affecting you as a landlord as a consequence of Brexit, follow the updates on the NRLA’s website.
3. #GreenHomesGrant
Admittedly, the #GreenHomesGrant has come about as a result of Covid. It is part of the government’s response to the virus, which has highlighted the fact that we need a “wholesale reimagining of how we live, work and play in urban spaces.”
The grant is good news for landlords, tenants, and homeowners alike, regardless of the time and effort needed to arrange claiming the grant – especially if you own numerous properties. The #GreenHomesGrant is for residential landlords and homeowners alike. It means that you can apply for a voucher that you can use to fund the cost of, “Installing energy efficient improvements to your home.”
The vouchers can be used to fund insulating your home, improving the thermal performance of your home and reducing the draughts in areas like windows and doors. The #GreenHomesGrant is now running until 31st March 2022.
Find out more about how CheckedInn can help you boost your rental income by getting in touch with us today.