It does not matter how bad the situation is. For many people who rent there may be some tough times ahead. While banks allowing a “mortgage holiday” for home owners, the ongoing of rent payments stays within the power of the landlords.
As the cut in mortgage payments may seem to free landlords from the burden of paying back their debts it is indeed just a deferral. The interest and rates have yet to be paid in future.
One side to the story are the tenants who won’t get a break from paying their share and the other is that landlords will be required to pay up as usual. It’s just a matter of when. As the landlord may save interest in the time this rule is in place, the tenant overpays. And surely a bank won’t see much of a cut either. This is the the mere continuation of a threatened economic system that plays unfair. Politics are currently not willing to even out the burden across the board.
The bank always wins.
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