On 17 March 2020 Redstones released the following press release.
The impact of Covid-19 is being felt through many sectors of business in the UK. Many industries are likely to be affected with the possibility that many of the workforce may be laid-off, have to take unpaid leave, or work reduced hours. This may cause issues for tenants being able to afford rental payments.
Redstones, a leading UK estate and lettings agency has responded to this by making a commitment to deal sensitively and flexibly with renters who may experience short-term financial difficulties.
Founder and Managing Director of Redstones Ltd, Manjit Virdi, said, “It is very likely that a significant number of tenants in properties which we manage will, through no fault of their own, face increasing financial pressures. We want to reduce any stress they may be feeling and are committed to working with them to help them feel secure in their homes. Communication is vital, and it is better to speak to our local agents before things become too bad if anyone has money concerns.”
For landlords Mr Virdi said, “Many people have the idea that landlords have deep and limitless pockets. Whilst a number of our property management clients have a number of properties in their portfolio, this is not an accurate picture of who the typical landlord is. Some may have one of two properties which they rent to supplement their income. For many they have inherited a home which they now rent out, rather than sell, for economic or sentimental reasons. Regardless, the potential for losing rental income is something which can have a significant financial impact.
“We are making an extra effort to reach out to landlords and let them know about our Platinum Total Care service. This guarantees them a monthly rental income, regardless of whether we receive payment from the tenant, or if the rental payment is late. We feel that by shouldering some of the risk and guaranteeing income this is one less thing for landlords to worry about.”
Redstones has offices in Coventry, Dartford, Hale,Telford, Walsall, Willenhall, and Wolverhampton.
Redstones are members of The Property Ombudsman, and complies with the Deposit Protection Service.
On addition to this statement we urge all of our customers to follow official guidance re social distancing, support your vulnerable neighbours as best you can, and keep yourselves and your loved ones safe and healthy.