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Late Rent - exp landlords advice please


only1salty

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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

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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.

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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.

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