Increasing Trend in Tenants Unable to Pay Rent

Feb. 20, 2012 - PRLog -- So your tenant is late with the rent or has stopped paying altogether?
Firstly, do not panic.
Secondly, do not attempt to harass your tenant (you may be fined up to £10,000 if you do).

What you should do, as quickly as possible :-
Get as much information about the situation as possible:-
•   Can the tenant make future rental payments
•   Can the tenant make payments towards the rent arrears
•   Speak to your mortgage lender to see if a payment holiday is available (if the property is mortgaged and you are under financial strain due to the non payment of rent)
•   Contact Evictions South East using the quick form below and we will call you with advise on the best course of action.

Click: http://www.evictions-southeast.co.uk/

Non payment of rent is one of the most common problems experienced by landlords and more often than not a very costly one - particularly if the landlord has a mortgage on the property which requires repaying regardless of whether the tenant pays the rent or not!

A tenant not paying the rent on a mortgaged property means the landlord has to meet the mortgage payments using their own savings or other income, which often results in the landlord themselves being faced with financial difficulties. If you are in this situation it is essential you speak to your mortgage lender as soon as possible to discuss the situation and possibility of temporarily reducing your repayments.

For more information on non payment of rent -
http://www.evictions-southeast.co.uk/tenant-not-paying-re...

How to minimise your losses:-

When tenants stop paying the rent particularly where there has been a significant change in their financial circumstances, landlords need to be realistic about their chance their tenant being able to meet the ongoing rental payments.  It is unlikely that landlords will ever recover all outstanding losses.  In many rent arrears cases the best solution is often re-possession and for a landlord to re-let quickly to minimise their loss. Therefore it is essential that eviction proceedings are started promptly. On average Evictions South East can save a landlord at least 4 weeks worth of rent.

Evictions South East are now able to offer a 48hour Court Date with our new Platinum Service, which can save you in the region of 6 - 8 weeks rent.

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