Late payment of rent is a very serious matter and constitutes a breach of the lease conditions.
Sometimes, early in a tenancy, it can be a simple oversight. Our staff check every day and if a tenant is overdue, a collection procedure is put into place straight away. This will commence with a telephone call to see what has happened. If rent is still not paid, this will be followed with a series of letters. If still not resolved after fourteen days, an eviction notice is issued requiring the tenant to pay all outstanding monies or hand the property back within seven days.
In the event that the outstanding money is not paid, nor the property handed back by the due date, an application is made to the Tenancies Tribunal for a hearing requesting a release of the bond and vacant possession of the premises.
Whilst this does not happen very often, sometimes it does occur and we will make sure that your risk and loss is minimised. Landlord Protection Insurance will cover lost rent in most circumstances.