If you are currently considering the possibility of becoming a landlord for the first time, or you may already be renting out a property – one of the real issues that you may be faced with is that your tenant is unable to pay their rent. And for you, this will then mean loss of income and the possibility of legal costs.
How we can help
The Paul Carr Residential Lettings Team already let and manage over 1,000 properties in the North Birmingham area with rental charges ranging from £400 pcm to £3,000 pcm. One of the many benefits of having our Lettings Team manage your rental property on your behalf, is that we have a team of experts who can help in situations like this.
With over 30 years’ experience in the local property market, we have a dedicated team who are highly knowledgeable in all aspects of letting properties and managing tenancies and the issues which may arise – including the non-payment of rent. We have procedures in place to try and avoid such a situation happening in the first place, but if it does, we will provide the support needed to ensure a quick resolution. We also have a dedicated protection policy available to ensure you continue to receive your rent and cover for all your legal expenses.
Finding the right tenant for you
To help you find the right tenant for your property from the outset, we ensure that for every prospective tenant that we obtain up to three references – a credit reference, an employer reference and where appropriate a current landlord reference. Our reference provider will also check their database for any past failed rent payments and they will do a CIFAS check of the national fraud database. When a tenancy agreement is arranged, we ask for the first month’s rent up front and a security deposit in excess of one month’s rent to be paid.
Tenants are also asked to set up a standing order to ensure future monthly payments are made and that rent arrives with us on the due date.
How to resolve the none payment of rent
Unfortunately, sometimes a landlord will face the situation where a tenant can’t pay the rent and therefore falls into rent arrears. This is where we can help you. As a full service, value added agency we have experts on hand who can discuss options for serving notice on your tenant in addition to the cover under our protection policy for unpaid rent and any legal costs which may arise to secure legal possession including tenant eviction.
Our Rent Recovery Plus Policy provides cover for 100% of the value of monthly rent payments for up to six months. And of up to £50,000 legal expenses are included in the policy to cover eviction costs if a tenant is in breach of their agreement. And if tenants change, the policy continues to give you peace of mind.
Get in touch with the Paul Carr Residential Lettings Team
Paul Carr Residential Lettings experts are here to help your experience as a landlord, run as smoothly as possible – every step of the way.
To find out more how we can help you to let your property, find the right tenant and fulfil your obligations as a landlord give our team a call today on 0121 726 9417.