rent guarantee/rent arrears

[sandwell74]

hello, My tennant is 2 months in arrears in paying there rent. I go through a agency but they are useless. My agency has also taken out a rent guarantee for me but I am unsure exactly what that means.

Any advise would be appreciated what a rent guarantee actually means and 2 what options I have to recover the rent

[Trojan]

Hi sandwell74

Your agents should by now have submitted a claim for arrears from the insurers, usually this must be submitted within either 21 or 28 I think of the rent falling into arrears.

Advise your agents that you would like a copy of the Rent Guarantee Policy, each agents is issued with one.

What these policies do is initially they trigger off a solicitors letter advising / threatening the tenants, ultimately settling your rent account with you and then taking the tenants to court.

But find out if your agents have submitted a claim yet.

Regards

Trojan

[sandwell74]

Thanks for youe reply Trojan I will give the agency a call today and see how I get on

[Letting Man]

Sandwell, If your Agent is "useless" aren't you better off looking after it yourself?

The Agent may well be at fault, but they may also be doing all they can. If somebody won't pay you can't make them and your agent may well have taken all the steps it can to get the money and should have already notified your insurers.

If I were you I'd get some control of the situation sharpish. If they are inept you could end up out of pocket for a while yet. On the other hand they may be doing everything they can but aren't keeping you informed.

BTW, there are only two N's in Tenant (pet hate, sorry)