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Covid rent arrears, should i be now pushing for it?


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Hi guys,

Like i'm sure many of you my tennats have fallen into arrears during the covid spell.

Over the course of the last few months they owed £800, they then made a payment halfway through to reduce the owed amount by half. Currently £400 outstanding.

Do you think, now the country is starting to get back on its feet i should be pushing my agent to apply some light pressure regarding the monies owed? Up until now i haven't and the £400 was topped up at their own free will.

Any advice is much appreciated.

 

Thanks

Max

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It depends why they went into arrears. If they were furloughed, they may well not be back in work yet or only going back part time from next week. They may also be at one of the many companies at risk of redundancy.

They still owe it and it works so no harm to speak to the agent to see why they got the break in rent anyway, as that may give a better idea of whether they are likely to be able to pay it yet. That they've already paid back half suggests they're aware it's still due and will pay it back when they can, so be careful not to start putting pressure on needlessly as it won't help the relationship. They sound like a decent tenant and they probably view you as a reasonable landlord.

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On 7/2/2020 at 7:28 PM, maxtuc said:

Hi guys,

Like i'm sure many of you my tennats have fallen into arrears during the covid spell.

Over the course of the last few months they owed £800, they then made a payment halfway through to reduce the owed amount by half. Currently £400 outstanding.

Do you think, now the country is starting to get back on its feet i should be pushing my agent to apply some light pressure regarding the monies owed? Up until now i haven't and the £400 was topped up at their own free will.

Any advice is much appreciated.

 

Thanks

Max

To be fair it sounds as though you have decent tenants.  £400 owed is peanuts in the grand scheme of things.  I would speak to your agent and maybe let them have the next month or two to get back on their feet and then maybe ask for £50 per month repayment.  It doesn't sound much but they will be so grateful.  I have a few tenants who owe me and I even told some of them to hold off when they wanted to pay me back.  I do not need the money so I would rather they got back on their feet and got their finances back in shape.  They pay me my normal monthly rent and will start to pay back next month.  I have been in shit financial circumstances myself.  I grew up poor and then got myself into tonnes of debt, so I know how hard life can actually be sometimes.  It's about getting the balance of being understanding and not being soft.

Darren

 

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