Our 5 tips for reducing rent arrears

Rent arrears are a major problem for landlords. It can be difficult to collect rent from tenants who are behind on their payments, and it can lead to evictions or even court proceedings. However, there are a number of things that landlords can do to help reduce rent arrears and protect their investments.

Here are some tips on how to deal with rent arrears:

Prevention is better than cure. Do your research on potential tenants before you let your property to them. This includes checking their credit history and references. By doing this, you can increase your chances of finding a tenant who will pay their rent on time.
Act fast. If a tenant misses a payment, contact them as soon as possible. Keep the initial conversation friendly and informal, but let the tenant know that you are serious about getting the rent paid. Often, tenants will pay up once they realize that you are not going to let them off the hook.
Try to avoid going to court. If the tenant is still not paying their rent, you may need to take legal action. However, before you do this, try to work out a payment plan with the tenant. You can also contact the tenant's guarantor if there is one in place.
If the tenant still doesn't pay, you may need to take possession of your property. This is a last resort, but it may be necessary to protect your investment. If you do decide to take possession of your property, you will need to follow the correct legal procedures.
If you have to go to court, be prepared for a long and costly process. There is no guarantee that you will win your case, and even if you do, you may not be able to recover all of the rent that is owed.

It is important to remember that rent arrears can be a stressful and time-consuming experience. If you are facing this situation, it is important to seek professional advice as soon as possible.

If you have any questions you can give us a call at 01482 562 562 📞 We can help point you in the right direction to get you the help you need.

Posted By

Ollie Potten