only1salty Posted May 9, 2006 Report Share Posted May 9, 2006 Hi, I have little experience in letting. I have my first tenants in and initially they stated that the rent was going to be a little late each month but catch up. Then for a few months the rent was paid on time. The last 2 months the monthly rent has been a week late. Please could you advise the best way to give them a gentle reminder as my mortgage date is a couple of days before the rent due date and therefore causes me cash flow problems. They (my tenants) are part funded by Housing Benefit. Have seen people discussing the do's and don'ts of these tenants but I have 2 months as a deposit for some security. Any advice welcome. Should I persue the interest clause in the contract or put something in writing indicating I will do this? Don't want to seem threatening as this can often backfire. Cheers Link to comment Share on other sites More sharing options...
mo999 Posted May 9, 2006 Report Share Posted May 9, 2006 To be honest, you are in a quite a good position as you are receiving the rent. There are many tenants who do not pay at all. It may be causing you some cashflow problems but taking a hard line may do more harm than good. A polite conversation may help but anything more harsh such as charging interest may certainly backfire and sour relations. There is no legal answer to this as it all depends on the circumstances and your relationship with the tenants. Link to comment Share on other sites More sharing options...
only1salty Posted May 9, 2006 Author Report Share Posted May 9, 2006 Thanks for your comments. The relationship has been very good so far. Link to comment Share on other sites More sharing options...
Landlord Insurance Direct Posted May 9, 2006 Report Share Posted May 9, 2006 i have in my contracts something about, £35+vat for late/bounced cheques/standing orders, only use it on persistent offenders, they soon get the message Link to comment Share on other sites More sharing options...
Mr. Green Posted May 10, 2006 Report Share Posted May 10, 2006 "i have in my contracts something about, £35+vat for late/bounced cheques/standing orders, only use it on persistent offenders, they soon get the message" Perhaps you should read OFT356. Link to comment Share on other sites More sharing options...
Melboy Posted May 15, 2006 Report Share Posted May 15, 2006 I wouldn't be tooooo overly concerned about this. You might find that the reason for this late payment is their Payday not coinciding with rent day. Talk to them nicely and try and determine why this late payment keeps occurring. Link to comment Share on other sites More sharing options...
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