widwarts Posted May 10, 2007 Report Share Posted May 10, 2007 Hi all I hope the more experienced on this forum can help. I have decent young couple as tenants. No problem but terrible at returning calls. Their tenancy agreement starts from 6th of each month, rent is paid with cleared funds at this time. He has switched jobs to a permant job where he is paid by bacs on 15th of each month into an instant access saver account. He does not have a current account, he transfers funds to his girlfriend who pays rent from her current account. This month they stopped the standing order for the rent on the usual due day without warning to me. He asks that he can now pay the monthly rent on 15th of each month instead to coincide with when he gets paid. My questions are: a) is this possible without handing over a few weeks free - as it were would the tenancy agreement be affected eg would the rent be paid on 15th of the month but notice given on 6th as per agreement or change it to be 15th for both? If so how? When questioned as to why he stopped the payment he says because he does not have the money. I have suggested they speak to their bank regarding an overdraft faclity to cover the necessary payments. I am a reasonable person willing to help, however I am not happy that they just stopped rent payment without telling me and when questioned say they havent the money. I have a few alarm bells but on the whole they are no trouble. Oddly they have a phone plugged into the landline socket saying they never activated it but there is a dialtone - is that possible? Looking forward to hearing from you Thanks Ann Link to comment Share on other sites More sharing options...
plym77 Posted May 11, 2007 Report Share Posted May 11, 2007 Hi Ann Be careful and only do it if it suits you. I did the same thing for my tenant, switching the payment date from 25th to the 1st. They paid the balance up to the new date and we both signed a letter amending the payments dates. The downside is however that my tenant is now ALWAYS late (without fail!!) with the rent - usually only a couple of days, but this now means that my mortgage comes out before the rent comes in - which can cause a cashflow issue if you aren't careful. So only amend it if it fits in with you. Do not forget however, if they are good tenants, it is worth keeping hold of them.... good tenants can be hard to find and if they leave you may well have vacant periods. If you do amend the payment date, I suggest you come to an agreement with the tenant that on the new payment date he also pays for the period from the 6th to 15th, so that the new rental period starts 15th - 14th of the following month. I am sure that other landlords on the forum will provide their wisdom to you in due course. Regards Sherena Link to comment Share on other sites More sharing options...
Simon Dewsberry Posted May 11, 2007 Report Share Posted May 11, 2007 HI For the sake of standardising all my agreements and cutting down on admin time - I have all of my tenants pay me up to the end of the month for the first month -and the following month if is 15th to 30/31st Then all future payments to be cleared into my acc by 1st of the follow months - after several years i have found that a standing order needs to be set for the 24th of the preceeding month in order for it to clear by the 1st (to take into account weekends bank holidays & the bank making profit wth the money !!!!) I explain this in great detail to tenants because otherwise they set up a SO for the 1st and i dont see it until sometimes the 10th. I have this as a standard term of my lease with a £5 a day penalty for late payment. This still does not gaurantee payment to arrive in time but 90% do! this from an admin point of view saves me checking rents every day i usually do most on the 1st or 2nd then start chasing debt ! I also have all of my mortgages geared to payment in the 1st week of the month so that rent arrives before payment of mort - and as i purchase more prop and rem existing i ensure that mort payments stay in "my" window! Simon Link to comment Share on other sites More sharing options...
tony_ mort Posted May 11, 2007 Report Share Posted May 11, 2007 In the first instance if you are in the property at any time alone dial your mobile. This will give you the number, if there is one. Calculate how much you will lose by the change of rental date and suggest that they raise their rent for (say)3 months to cover the shortfall. If you start a new agreement the deposit will need to be lodged. Don't worry too much about the stopped S.O., if you think they are decent then they probably are. Just tell them that if they don't communicate you have no option but to think the worst and act on it. Regarding notice, go by the tenancy agreement, not what amounts to a private agreement. Link to comment Share on other sites More sharing options...
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