RENT ARREARS RECOVERY
Chafes Press Release PR128-3 : 25 February 2008
It is a simple statement that the key to ensuring properties continue to provide profitable investments for commercial and residential landlords, is to maintain good relationships with tenants and to obtain prompt payment of rent.
A good landlord – tenant relationship and the level of profit gained are intrinsically linked, with late or non-payment of rent placing stress upon the relationship and investment.
With this in mind it is important that landlords have in place, not only thorough credit checks of new tenants, but also a system to deal with any arrears as efficiently as possible. Being aware of and understanding the options available as well as acting quickly can minimise the adverse effects of rent arrears.
In certain circumstances, commercial landlords have the options to seize goods and recover possession without a court order whilst in residential cases recovering possession through the courts needs to be as swift as possible. Having a clear knowledge of these options and a plan of action in place is critical.
To discuss the options in more detail contact Michael Devlin at Chafes Solicitors on 01625 531676 who can provide advice on how to pro-actively plan to minimise the effect of rent arrears or, if needed, can act to implement the chosen course of action.
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