How SE18/SE28 Landlords Can Avoid Rent Arrears

How SE18/SE28 Landlords Can Avoid Rent Arrears

In this three-minute read, we look at the steps SE18/SE28 landlords can take to protect against a tenant falling into arrears.

Landlords have always worried about tenants falling behind in the rent, but that fear feels particularly pertinent right now due to the pandemic.

There are many reasons why a tenant might be unable to pay their rent – such as illness, job loss, or relationship breakdown – but the bottom line is it’s stressful for both landlord and tenant.

The good news is there are things landlords can do to protect themselves from getting into this predicament. Here are some tips.

 

  • Always carry out credit and reference checks before a tenant moves in.
  • Make sure your tenant signs a contract.
  • Keep your records up to date and when rent is paid, send the tenant a receipt – this is particularly useful if it’s a joint tenancy. If there’s a dispute, it’s easy to identify who has missed a payment.
  • If you’re dealing with a joint tenancy, ensure that all tenants understand they are equally responsible for the rent – and any unresolved debt. (If there’s an underpayment, often the tenant who has paid up can be a valuable and persuasive ally in getting the errant tenant to pay.)
  • Keep all tenants in the loop about the situation as they bear joint responsibility (even though they might tell you otherwise).
  • If a tenant misses a payment, talk to them but don’t go in all guns blazing. You’re trying to find a constructive way forward, not score points. Always remain professional.
  • Keep records of all conversations.
  • Consider adding rent protection cover to your insurance for some peace of mind.
  • If the tenant has a good track record, and you feel they can turn things around quickly, consider a payment plan. This is a revised payment schedule that gives the tenant a chance to get back on their feet.
  • If you do agree a payment plan, make sure you put it in writing.
  • The tenant may decide that they can’t meet their obligations and serve notice that they want to move out. If this is the case, contact your tenant deposit scheme and ask them to deduct the unpaid rent from the deposit.
  • Legal eviction proceedings should always be the last resort. There is currently a huge court backlog, and lawyers are expensive. Do everything you can to find an alternative solution.

Contact us today on 020 8316 6616 and find out how we’ll help you avoid rental arrears.

Recent Blog Posts

Latest news and updates

Small Gestures, Big Impact: It’s Random Acts of Kindness Day 9th April Uncategorised

Small Gestures, Big Impact: It’s Random Acts of Kindness Day

Small Gestures, Big Impact: It’s Random Acts of Kindness Day Random Acts of Kindness Day is this Saturday 17th February. The idea of a day to perform random acts of kindness began in America in 1995. It’s spread globally and is a great opportunity to show how small, thoughtful actions…

Read More
What You Should Know before You and Your Partner Live Together  If talk between you and your partner this Valentine’s Day turns to living together, there are a few practical things you should know first.  Here at Hi Residential, we pride ourselves on being as helpful as possible.  But dishing out relationship advice is a step too far – even for us.  So, if you’re considering moving in with your partner, we’ll leave the big decisions and lovey-dovey stuff down to you.  However, if you decide to co-habit, we have some useful, albeit unromantic, advice for you.  It’s based on insights we’ve gained over the years from helping many couples set up home together.  Speak to your landlord  One option when moving in together is to start afresh in a new rental property. However, if you plan to move into your partner’s rented place or for them to join you, then you need to discuss this with the landlord. Be aware that you’ll need to get the landlord’s permission first, and they’ll most likely have to run a reference check.   Budget and bills  The good thing about living with someone is you can share the financial burden of renting. But you’ll need to have a frank conversation at the start to discuss how much you can afford to pay in rent and how you’ll split the bills.  Jointly liable  It’s worth understanding that when the two of you sign a tenancy agreement, you are both ‘jointly and severally liable’. This means that if, for example, your partner loses their job and can’t pay the rent, you could be liable to pay their share. The same goes for the upkeep and maintenance of the property. You’re both equally responsible.   Logistics  If you both already have your own homes, decide what furniture you’ll each take to your new property. It’s unlikely that you will have room for more than one sofa, bed or dining table, so you may need to give away or sell some big-ticket items. At this point, you may also get the home-making bug and decide to buy some items to turn your new place into a cosy love nest. In that case, it may be time to put your relationship to the test by taking a trip to Ikea. Good luck.  If you’re looking for a new rental property, contact us here at Hi Residential today. 9th April Uncategorised

What You Should Know before You and Your Partner Live Together If talk between you and your partner this Valentine’s Day turns to living together, there are a few practical things you should know first. Here at Hi Residential, we pride ourselves on being as helpful as possible. But dishing out relationship advice is a step too far – even for us. So, if you’re considering moving in with your partner, we’ll leave the big decisions and lovey-dovey stuff down to you. However, if you decide to co-habit, we have some useful, albeit unromantic, advice for you. It’s based on insights we’ve gained over the years from helping many couples set up home together. Speak to your landlord One option when moving in together is to start afresh in a new rental property. However, if you plan to move into your partner’s rented place or for them to join you, then you need to discuss this with the landlord. Be aware that you’ll need to get the landlord’s permission first, and they’ll most likely have to run a reference check. Budget and bills The good thing about living with someone is you can share the financial burden of renting. But you’ll need to have a frank conversation at the start to discuss how much you can afford to pay in rent and how you’ll split the bills. Jointly liable It’s worth understanding that when the two of you sign a tenancy agreement, you are both ‘jointly and severally liable’. This means that if, for example, your partner loses their job and can’t pay the rent, you could be liable to pay their share. The same goes for the upkeep and maintenance of the property. You’re both equally responsible. Logistics If you both already have your own homes, decide what furniture you’ll each take to your new property. It’s unlikely that you will have room for more than one sofa, bed or dining table, so you may need to give away or sell some big-ticket items. At this point, you may also get the home-making bug and decide to buy some items to turn your new place into a cosy love nest. In that case, it may be time to put your relationship to the test by taking a trip to Ikea. Good luck. If you’re looking for a new rental property, contact us here at Hi Residential today.

What You Should Know before You and Your Partner Live Together  If talk between you and your partner this Valentine’s Day turns to living together, there are a few practical things you should know first. Here at Hi Residential, we pride ourselves on being as helpful as possible. But dishing out…

Read More