As a leading property expert in the borough, I’m more than happy to answer any questions that you may have.
Looking for which type of properties in the area will sell the quickest on the market? Perhaps your tenant or landlord is becoming difficult to communicate with and you’re looking for the best approach to resolve the situation? I’m more than happy to help.
How do I approach a situation regarding a tenant in arrears?
There can be a whole range of reasons why tenants may have fallen into rent arrears, and it is always best to approach the situation with an open mind as well as looking to establish a line of communication at the earliest opportunity.
If a rental payment is late then you need to be contacting your tenant on the very first day and sensitively source the reason behind it. Perhaps there has been a problem with their bank or standing order; if they say the funds have left their account then ask for a screenshot from their banking to prove this.
If for whatever reason a tenant is unable to make a full payment, negotiate a payment of some form in the meantime in an attempt to mitigate any potential voids. In order to minimise arrears, tenants need to continuously ensure that some form of payment is being made on their part rather than amassing an unmanageable amount.
If communication or a follow up on the payment is not made by a tenant, you should attempt to communicate via text and phone calls, developing a paper trail of correspondence. It helps to also become well acquainted with a solicitor, perhaps the one who oversees your conveyancing. From here, you could ask the solicitor to pen a letter directly to the tenant asking for prompt payment.
I would strongly recommend quarterly inspections to ensure a face-to-face communication with the tenant is maintained, whilst also allowing you to gain a feeling for their current situations and monitor the financial circumstances.