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Showing results for tags 'unpaid rent'.
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Recovering Unpaid Rent
Matthew Webster posted a topic in General property discussionHi everyone, I am a landlord currently with two B2L properties looking to expand my portfolio. I am also someone who constantly thinks about business, new ideas and how I can help other property investors. One area that there seems to be little to no discussion on (at least that I can find) is that of recovering lost rent when NO rent guarantee scheme or insurance has been purchased. Typical scenario would be you have had to evict a tenant for not paying rent, you have no rent insurance, have paid all the court fees and are now out of pocket for £££’s of pounds. What can you do to get your money back? Or do you just take the financial loss and move on? So, my question is, if there was an option to use a company to recover those losses for you, without you needing to spend a further thousand pounds using one of the big solicitors firms, would this be of any interest to our community? Really interested to get peoples thoughts on this and thanks for your time reading.
Advice on evictions
sarahmh posted a topic in General property discussionAdvice needed! I’m an experienced landlord with a few buy to lets and up until now I’ve had really good long term tenants. I’ve got 2 tenants that are 4 months into a 12 month agreement and currently going through a bad break up. They’re both telling us different stories about them wiping each other’s bank accounts so can’t afford to pay the rent. She’s saying he’s being investigated by the police and social services so cannot be contacted by him, nor reply to group emails. We don’t know what to believe but none is our concern. They’re over 2 weeks late with the rent and it doesn’t look like it’s coming any time soon. Neither will surrender their tenancy. She has asked to be evicted so she can get council housing but we are aware we cannot start that process until they’re 2 months late with rent or have broken a clause which we don’t believe they have. Has anyone been in this situation or can offer any advice on the steps we need to take next? Thanks