The correct way to approach rent arrears as seen by the debt collector

I’m often amazed at the mess some property mangers and private landlords get them selves into over rent arrears. In case some of you have forgotten (or your multi millionaires) you require rent to help fuel your mortgage.

So for those who manage the property themselves I’d recommend the following procedure for rent arrears;

1. At 3 days a phone call to your tenant asking them if every thing is okay and to let them know at 7 days you will issue notice to remedy breach. Make it clear that its not personal but a business matter.
2. If at 7 days they still have not paid SEND THE BREACH or drop it off personally (my head field officer recommends this as you can have a little peak around whilst your dropping it off)
3. Call them a few days latter (if when you drop it off they are not home) to make sure they understand what is going on.
4. If they have not responded by paying or in writing to your 1^st breach then send a letter advising that the matter can be resolved if they pay. Now it may be that your tenant is a little short on cash at the moment. That’s okay it happens to the best of us. So offer them if you want a payment plan to fix the issue. BUT remember to be firm about this and that they breach the agreement (please but in writing) you will have no choice but to take further action.
5. Should they pay no attention to your previous letters then issue a notice to leave and prepare you paper work for your respective states tribunal to either get a warrant and/or recover the monies owed to you.

Any questions drop me a line