Almost every landlord at some time will have a situation where the tenant falls into arrears and knowing what to do, can sometimes be a challenge, especially when emotions are getting the better of us. This can be due to the fear of what could be the start of a lengthy and expensive eviction process or just having to deal with the trauma of it all.
Tenants can and do fall into arrears for many reasons, ranging from losing their job, benefits being cut, changes in the family set up and sometimes it has been known to be due to overspending at Christmas or on family holidays, although in my experience, this is rare.
We are proud to maintain less than 2% arrears rate on our managed properties, which include all tenancy types, ranging from LHA, HMO and corporate lets, so what's our secret?
In brief there are three things that you need to be throughout the process, to ensure that you maintain open lines of communication so that you can work towards a solution and they are: