I’m gonna get you!

I have several tenants who are not the greatest at keeping up their rent payments. up to now i have been puting up with late rent, very late rent, missed rent and NO rent from some of these tenents. I have on the whole been too busy to keep chasing them or to chase them at all. most of my “property time” at the moment is spent on new deals and new purchases and very busy with these i am.

this is going to change soon… very soon… after this bank holiday will see a new begining for my property business as i take on several associates to help take on some of the new investment deals coming in. this is good news for me as it will slighlty take the heat off me to do the deals all on my own. it will also allow me to spend some time chasing the bad guys.

BEWARE - BEWARE - i’m coming after you!

i’ll have to do it all by the law, i’ll give them the chance to catch up with payments in a few weeks or otherwise i will serve notice of eviction. Harsh i know, but i can’t and i won’t pay for these people to live at my property as that is effectively what is happening if they are not paying rent or the full rent. i end up either subsidsing the mortgages i have on those properties or paying for them in full.

its not all that bad though to be fair i suppose i have about 3 out of 50 or so tenants that are giving me some grief. so about 6% which is about the quoted figure (5%) for bad tenants i guess. part and parcel of the BTL (Buy To Let) game i suppose. i do have some really good tenants that cause me no trouble at all, they maintain, redecorate and do odd jobs to the properties themselves.