10:30 AM, 16th March 2020, About A year ago 4
My tenant is an European national who has a holidays business across Europe. He tells me it has crashed due to Coronavirus and he is struggling to pay the rent and it is already 30% short this month. My agent has already started their automatic debt chasing process which used to include interest charges..
I give marks to the tenant for forewarning me of his predicament and explaining he has recently made a big investment that has overstretched him so he has no reserves at the moment so its back luck timing. As an aside, its a premium property and I think he should downsize but he has been there a few years now and guess he is happy there. Originally I took a risk since he was fresh from Europe with no credit rating but I think he values what he has now.
He is quite honest and has been an accidental late payer (due to funds coming from abroad) but as a landlord I like to do things by the book and keep a respectful distance and not be seen as offering favours that could count against me in court.
However, I am interested/willing offering some credit e.g. only 50% is payable for 2 months, then it rises to 100% for a couple of months and then maybe 150% for 2 months to bring the account up to date.
However, does that put me at a disadvantage if it went wrong and I pursued the Section 8 (well no Section 21 anymore) and pursed a small claims case for at least part of the outstanding? I presume the magistrate will not be too sorry for me either?
Other than getting something in writing that the agent could add to the contract, how else could I formalise this?
Or, I could play hard and use this as a reason to claim Section 8 breach now we don’t have Section 21.
What would you do?
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
Previous ArticleTenants own business supplying lighting to large scale events?
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|