Are you a landlord?

Have you ever had a tenant that has not paid the rent?

Or

Do you have a tenant that is not currently paying the rent?

It can feel incredibly stressful and unsettling when a tenant has not paid rent on time. 

However, having the right checks and procedures can help you feel supported and calm. 

Here are 3 tips to help you.

Tip 1

Clear communication.

Start by speaking with your tenant. Have their circumstances changed, or are they choosing not to pay? 

Can an agreement be reached regarding the payment of the rent? 

Try to remain firm but fair in your approach.    People sometimes tend to respond better when they feel they are being heard.  Confirm your agreement with your tenant in writing.  Swiftly send a polite reminder that the rent is late. 

Do not allow rent arrears to accumulate before seeking legal advice.

Tip 2

Work with a lawyer.

Remember, if your tenant pays rent monthly and is in arrears for at least two months, legally, you can give your tenant a two-week notice period to pay the rent immediately or face eviction. 

The two-week notice must be in a prescribed legal format, and you should take legal advice to make sure that this is done properly.

Tip 3

Insurance?

Even the best tenant can fall into arrears at times.  Is rent protection insurance available for future lets to help protect your financial position moving forward?  Some policies will cover your legal expenses as well.

If yuo would like an information chat about any of the information given, contact us, and we can arrange a time to speak that works best for you.