Rent arrears recovery has become increasingly difficult in the last few years and the trend does not seem to stop anytime soon.
New rules and regulations are coming to force all the time to ensure tenants are treated fairly and the rules for property safety and tenancy agreements tighten.
Thus, landlords find it more and more difficult to recover rent debt by themselves and therefore they are at risk of spending valuable time and money without getting the desired result: the collection of the rent debt.
A good rent debt collection agency can save a lot of time and more importantly money when dealing with tenants not paying rent.
The below guide provides 5 simple reasons to use a good rent recovery agency.
1. Ensure proper documentation is in place
Without the proper documentation in place (such as a sound tenancy agreement, with all the required details in, the protection of the deposit – if any -, existence of a guarantor, so on), landlords would just waste their time and money chasing missing rent.
The current legislation is very clear and no court would give a decision in the favour of the landlord if proper documentation is not in place.
2. Do it by the book
A good rent debt collection would know all the rules and regulations that a landlord looking to recover rent debt must follow so the rent debt has the highest possible chance to be recovered.
One simple mistake can cost a landlord weeks in chasing rent debt collection (as well as money, of course) with no result.
Landlords chasing tenants for rent recovery must make sure that everything in the process is done by the book.
3. Serve section 8 and Section 21 correctly
Sometimes the rent arrears are so big that the landlord decides to repossess the property. Once again, if the rules are not followed in their spirit and their letter, there is a high risk of tenant eviction being ruled against in a court of law.
Just one example: there is a minimum period of rent arrears required by law (period calculation differs depending on how the tenancy agreement is set) in order to be able to serve Section 8. If the period is incomplete, even if by just one day, the judge may very well make the decision against the landlord’s desired outcome.
There are also rules for serving the notice and how the number of days are calculated. If in doubt, check with a solicitor or with an agency specialised in rent debt collection.
4. Guide throughout the process
Rent debt collection can be a drain on anyone’s resources and energy, especially for someone not familiar with the process.
A good rent arrears recovery agency will always guide you through the jungle of rent debt recovery process and will provide you with the most efficient way of moving forward.
Most importantly, a good rent debt collection agency will always tell you in advance if there is little chance of recovering your rent debt, so you do not waste time and more importantly, more money in a process with little chance of success.
5. Save money by using right procedure at the right time
Different stages of rent debt require different approaches. Sometimes a simple call or letter may resolve the situation.
Unattended however, the tenants not paying rent will continue to do the same, which is not paying rent and situation can very soon get out of control.
Rent debt collection does not need to be expensive. Used wisely, the results are extremely positive and rent arrears are collected in full.
Thus, using a rent debt collection agency can save landlords time and money.
Rent debt collection: Rent Recovery at Its Best
TDR is working with the landlord’s point of view in mind at all times and it provides guidance throughout the whole process in a manner that is expected by all landlords.
The focus of our rent debt collection process is speed and accuracy, focused on the main result: collecting the rent arrears, repossessing the property and ultimately, giving the landlord peace of mind.
If you are a landlord dealing with rent debt and tenants not paying rent and if you are looking for a good and efficient rent debt collection agency, why not give us a call or contact us on https://tdra.co.uk/contact-us/.