Worried about missed rent payments? Unsure what to do when your Edinburgh tenants skip a month and can’t be contacted?
First, try to put yourself in your tenant’s shoes…
They may be suffering short-term financial hardship, have lost their job or be dealing with a serious life issue such as illness or a death in the family.
While late payments are frustrating, and it may be tempting to take a tough approach, it’s more effective to try to make contact to understand the reason behind the delay and negotiate a settlement. A friendly message that says “you may have overlooked your latest rent payment” or “just checking everything is okay as I haven’t received your rent” is more likely to receive a response.
Once you understand the reason, you can discuss how your tenant can make up the missed payment and continue to pay on time. Options like a temporary rent reduction, payment plan or payment holiday may help resolve the issue.
However, some landlords find it difficult to have conversations with their tenants over missed payments and that’s where a property management contract comes into its own. Your letting agent will handle the issue for you and negotiate an outcome that suits everyone.
To learn more about Clan Gordon’s complete property management service, visit our website.
