London agent for billionaire landlord turns down residents’ request for coronavirus relief.
Tenants who asked their billionaire landlord for a rent reduction during the coronavirus pandemic were told to use the money they would have spent on lunches and holidays to pay the full amount due.
More than 100 residents living in a block in Somerford Grove, east London, signed a letter addressed to their management estate agency and the building’s corporate landlords asking for a 20% reduction in rent and an agreement that no tenant would be evicted during the coronavirus pandemic.
But the letting agent, Tower Quay properties, told them their request was “unreasonable” and “unrealistic”, adding that any drop in tenants’ income would be minimised by a reduction in spending on holidays, entertainment, travel, clothes and lunches.
“Subsequently, when all of this is taken into account, in most cases we believe the impact on disposable income will be minimal, and there is therefore no justification for any reduction in rent, especially considering that whilst tenants are isolating the wear and tear in properties is increasing, which will be at the cost of the landlord,” the agent said.
The agent also noted the recent support announced by the government, adding that the building’s commercial landlords did not speak directly to tenants and that all communication was to be with the agent.