If your tenant is struggling to pay their rent due to unforeseeable difficult circumstances, eg the coronavirus (COVID-19) pandemic, they may ask you for a rent holiday and for your permission to delay their rental payments. In Wales, ‘tentants’ are known as ‘contract holders’. For the avoidance of doubt, references to ‘tenants’ also apply to ‘contract holders’ unless otherwise specified.
If you decide to grant their request, use this rent repayment plan to create a formal legal agreement for the deferral and repayment of the rent. You can avoid potential conflict by setting out clear rules for the repayment of the rent. This rent repayment plan outlines the fixed amounts as well as the frequency of instalments in which the rent is to be repaid.