Silverwillow

Registered with Property118.com
Sunday 26th September 2021


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Total Number of Property118 Comments: 1

Silverwillow

8:21 AM, 6th November 2021, About 7 months ago

Money better spent making a cash offer to vacate?

I am an HMO landlord & I have always done both. Firstly I let the tenant know I want to help them. I then make them a time-limited offer. This varies depending whether or not there are arrears and how soon the tenant has made me aware of their situation. If no arrears, I suggest if they can move elsewhere within 7 days, I will give them both their deposit back in cash & 1st month’s rent upon key handover. Or if they are starting to fall behind with rent & are in arrears, I let them know if they can move within 7 days, I will overlook the arrears & give their deposit back in full at key handover. Some have been pleased to have the slate wiped clean. This worked well for one tenant who had part-paid rent for several months. It had mounted up & overwhelmed him. He was happy to just get his deposit back and moved out within 4 days. I found another tenant for this room quickly who moved in the following week. I also tell tenants I will be issuing a Section 21 ‘for our own protection’ however I would much prefer them to have the cash & make a fresh start elsewhere. So far, even tenants with ‘nowhere to go’ have managed to find somewhere quickly & move out within 7 days. If they don’t go for the cash option, then at least the eviction process is underway. I have only once used Section 21 & the courts to evict & found it a very expensive, protracted experience.... Read More