Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
I have a tenant that has been living in one of my properties since 2009.
She’s an LHA tenant and has never actually missed a payment in that time, but in the last year or so she has been constantly late with the rent which has caused me a fair bit of stress and wasted time in chasing her. On the other hand the property is spotless and she regularly has the carpets cleaned and takes pretty good care of the place.
I work and have a demanding job and am a bit fearful of a void when this has been a steady source of income for so long and I am grateful to have had zero voids in almost 6 years. The property will probably need upgrading for a new tenant and I don’t fear the cost of doing this too much. What worries me more is that t I have never been able to find a truly trusted tradesmen do do bathroom renovations and the like.
As I know the tenant struggles to pay the rent as it is. I haven’t increased the rent since she moved in and I could probably get another £200-250 a month now, but I’m a bit worried about upsetting the apple cart and finding someone decent to repair / renovate the place if she goes. All of this has led me to just leave the situation as-is. I’m not desperate for the extra rent and a change of tenants will incur extra costs and take up even more of my time.
If I do lose may rag and decide to ask her to leave what is the best approach? Should I simply ask her to leave and issue notice or issue a section 8 (?) on the grounds of constant late payment, or say I wish to move back to the property or that I now wish to raise the rent?
I am a bit fearful that she’ll suddenly become difficult or start neglecting the place if she feels she no longer has any interest in keeping it in good condition. What approach do people think is usually most acceptable to tenants and avoids too much conflict?
I doubt I’ll ever get a professional tenant who will stay as long…
What do y’all think? In some ways I think I’ve been very lucky, but I also feel she’s taking the mick with me a bit these days as I have to chase her every month.
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