Tenant rent arrears have been established as one of the fastest growing UK problems recently.
Consequently, rent arrears recovery has become one of the most important areas for the landlords – whether accidental or professional ones. Recovering rent arrears is not an easy thing to do, especially that tenants fall behind paying rent for various reasons:
- Tenants have lost their job
- Tenants had to take a cut in their wages
- Things are more expensive nowadays and therefore rent is less affordable
- Maybe one of the joint tenants has moved out and therefore staying tenant cannot afford paying full rent at the moment.
Do You Have a Plan for Rent Arrears Recovery?
Most often, when tenants miss a payment, partial or full, the landlords do not know what to do. Therefore things can go adrift from here.
The easiest way to deal with rent arrears is to deal with it straight from the start. Do make the tenants aware of the situation and make them aware of the risk – which can go up to them losing their home.
When in debt situation, tenants will always pay the creditor who shouts the loudest. If you make them aware of the risks involved as soon as they missed a payment, you have the highest chance of collecting the rent.
If they still don’t pay, then a good plan can save you time and money.
Do you need help recovering rent arrears?
As soon as tenants go into rent arrears, the landlords are thinking of repossessing the property, usually by serving Section 21 or Section 8 notices. However that is not always the best and the most cost effective option.
In our experience, sometimes is best to try to collect the money – and this is where Tenant Debt Recovery Agents excels. In our experience, many times the situation is resolved by putting a payment plan in place to recover tenant rent arrears.
Keep in mind that times are difficult for many people and therefore most people are actually appreciate your help to get back in line with their rent payments. If you can get a payment plan in place to recover your rent arrears, then you will get a more stable tenant and you will avoid unnecessary costs incurred with tenant eviction, property being empty, re-marketing the property, so on.
As a landlord, you will always be better off if you can get a payment plan in place for your tenant’s rent arrears.
How we can help you with rent arrears recovery
At TDR we will help you avoid unnecessary costs. Instead of using expensive professionals we can guide you through a simple process where you can decide what you need to do. Our processes and services are very simple and they can be selected one by one. You do not need to take the full package of services if you do not need to.
Depending on your exact situation we will advise you on the most cost effective method to recover your tenant rent arrears and provide you with a sound plan of action.
Our steps are very easy to follow:
- Work with a tenant to put a payment plan in place to recover your rent arrears. Depending on the amounts involved, the payment plan can be shorter or longer.
- Should that fail, or if you already tried that and want to go straight to Step 2, our solicitors will send the tenant up to 2 rent arrears letters. Our letters, sent as landlord letter to tenant, are very effective and they work most of the time.
- Should the tenant not be responsive to the steps above, we recommend then going straight to serving Section 21 and Section 8 notices. We recommend going with both serving Section 21 notice as well as Section 8 as it significantly increase your chances of property repossession.
- If the tenant has not vacated the property following serving the notices of repossession, we can help you with proper repossession of your property. We can also help you if you served proper Section 21 or Section 8 yourself, not necessarily through ourselves. Our solicitors are very experienced in getting the court eviction process started and obtaining the best results.
- Upon property repossession you may decide that you still want to pursue your (former) tenant to recover your rent debt. We start the process swiftly and we use High Court enforcement officers to get swift results.
Advantages of using TDR for rent arrears recovery
- Speed of service
- Proven track record of obtaining results
- Providing advice on best course of action
- Quick and easy way of ordering services, therefore reducing your costs at a minimum
- All other fees are included, no extra costs for the service selected
- Clear and transparent pricing
Should you have any further questions, please contact us on firstname.lastname@example.org.