Once a contract is signed, it can be easy to assume that the rent will keep rolling in. Unfortunately, loss of rent can occur for a variety of reasons and it’s not always easy to predict where and when the shortfall will come.
Whilst it is the tenant’s responsibility to make sure rent is paid in full, on time and in the manner agreed in the tenancy agreement, effective procedures for managing arrears should be established because late payment is not unusual.
Falling into rent arrears can be a very difficult time for tenants. Payments can be missed for a variety of reasons and sometimes this can be resolved between the landlord and their tenant.
For example, if the rent does not appear to have been paid, it’s best to know for certain as soon as possible, instead of allowing the issue to drift. There may be a simple explanation, such as an admin error. Issues like this can be quickly resolved by talking to your tenant and establishing a process to ensure rent is paid on time in future
Sometimes, however, the problem may be more serious. In situations like these, it’s even more important that you speak to your tenant as quickly as possible.
So if your tenant falls behind in the rental payments, here are a couple of quick measures you can take to get to grips with the situation
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