News and Blogs

3 July 2020
"Pick the brains" of our property experts supporting landlords on rents, tenants and valuations

Garness Jones are urging landlords worried about the impact of the coronavirus pandemic on their investments to ‘pick the brains’ of our experts to help plan a new way forward.

Given we have more than 20 years’ experience in buying, selling and managing commercial properties across Yorkshire and Lincolnshire, we are keen to offer more support than ever given the huge pressure which has fallen upon property landlords over the past three months.

The team at Garness Jones has helped many landlords come to temporary agreements with tenants operating across all commercial sectors, as businesses have been unable to trade fully given the conditions of lockdown and social distancing.

Managing director David Garness explains why he wants to extend the hand of support further, as he believes it is a time when the region’s business community has to come together as pressures intensify.

“Collectively, as a business community across the Yorkshire and Humber region, we have the companies and people with the knowledge and expertise to help others steer a way through what without doubt are going to be more challenging times ahead,” he said.

“We’ve supported many through the initial months but things will intensify as support such as the Furlough scheme comes to an end and businesses feel the true pinch of reduced trade.

“What we have to be prepared to do is find a way of reaching out and supporting others. That’s why we’re urging people to get in touch and let us know their concerns.

“It’s a genuine offer as although we’ve traded through similar tough times in the property sector where tough decisions have had to be made, we know many others haven’t.”

Landlords will have ‘common concerns’ and be in need of advice

Mr Garness feels many property owners will have common concerns on their minds at the current time, as the country continues to ease out of lockdown.

“We’re quite simply urging people to ‘pick our brains’ at first because we want people to feel able to pick up the phone and share their situation with us.

“We know that in many cases we will be able to steer people in the right direction for advice and support, whether that be access to financial support, providing details on Government help or advising where they stand legally.

“The pandemic and lockdown has been challenging for all, in any line of business, but for the landlord it has been really tough.

“We are talking here about people with property portfolios which were most likely consistent streams of excellent income at the start of the year, with very little headache.

“Now, those very same property portfolios may have become a headache for many because of the lack of income and rent, the worry over the future and stability of their tenants and a lack of understanding and clarity of where the law supports them with regards to securing constant income.

“They will have concerns over rent arrears, tenants who look in trouble and may not be able to continue trading, whether the value of their properties has changed, if it is a good time to sell or not and what the future outlook is.

“Landlords are sometimes the last on peoples’ list when it comes to sympathies and understanding but they are right at the top of our priority list as we know that they too have bills to pay and need to be profitable to be able to continue providing opportunities to local businesses.

“We’ve had an extremely busy period supporting landlords and tenants throughout lockdown and we feel there will be a lot more out there needing support and guidance over the coming weeks and months, as pressures intensity further.”

To speak to the Garness Jones team about property management call 01482 564564 or email Simon.Preston@GarnessJones.co.uk