How to Deal With Rental Arrears

One of the things that no landlord anywhere is going to want to have to deal with is having a tenant who gets their rent payments into arrears. It is a huge problem, though, and almost all landlords are going to have to deal with it eventually. If they are not dealing with it first hand, and use a property management person or firm instead, then they definitely still want to know how it all works so that they can make sure they get the money owed to them for the property they have invested good money in. This is one of those situations where it is going to be smart to start out gently. Just send a reminder to start with because tenants are people too and often they have a normal reason for not being able to meet their rent. This could simply be some sort of bank account error that they forgot to tell you of their new account or it could also be an issue where they have had a a problem with the transfer not going through the way it should. Always start out gently to keep the human touch and make things go as smoothly as possible in case it is a genuine mistake. A phone call can follow this.

Another very important step that can be taken to help tenants in arrears be able to get back on track is to craft a proposal for them. This is a solution proposed by the property owner to try and fix the situation which is something a terrified tenant may not know how to do. It can help when times are rough and a tenant loses their job or some other disaster occurs which threatens to cut off their income. Tenants who are able to work with this sort of proposal, provided they are of good standing in other areas of being renters, are often able to reclaim their good name and be good tenants for a much longer period of time. Small payments for a time can demonstrate their willingness to keep up with their obligations and prove that they are doing what they can to try and make ends meet.


Leave a Reply

Your email address will not be published. Required fields are marked *