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Property
September 24, 2021
VIDEO: What should I do when a tenant won't pay rent?
You thought you’d found the perfect tenants, but then you realise that they haven’t paid their rent. What should you do?
• First, communication is key. Always check the day after rent is due to make sure it is in your account. If it’s not there, contact them straight away. There could be a simple answer, like a transfer issue. Keep clear records of all communications.
• Generally, give up to seven days as a grace period, then give a formal letter, and then give 24 hours’ notice to visit the property.
• Does your tenant have a guarantor to pay their rent if they are unable to? Get in touch with them as they may be able to settle the bill.
• Have you got landlord insurance? A ‘rent guarantee’ will provide rental arrears and financial help.
• Problem still not solved? It’s time to get the courts involved. Talk to a legal advisor like a solicitor and bodies like the National Landlord Association to help you.
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Good Life Homes (North East) Ltd. Registered in England & Wales. Company No: 11734590. Registered Office Address: Good Life House, 46 Windsor Terrace, Sunderland, SR2 9QF. Trading As: Good Life Homes