Safeguarding of rental income?
2:49 PM, 16th November 2020, 6 years ago
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With the increase in tenants defaulting on their monthly rent payments and us landlords possibly having to wait 6 months before starting court proceedings, what are other landlords doing to safeguard themselves?.
My tenant has indicated that he is moving out around the end of the year, other than requesting 3 months pay and bank statements for new tenants plus the usual electrical, gas etc paperwork, just seeing what other landlords are doing to ride this period?
Many thanks
Alan
13 comments on this article
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Unfair Garage Rent Payment?
Member Since May 2014 - Comments: 218
5:19 PM, 22nd November 2020, About 6 years ago
Reply to the comment left by EvolutionBlogger at 22/11/2020 – 16:24
I agree, Evo, but personally, I prefer solid gold house owning guarantors. Only because I don’t trust insurance companies for when push comes to shove.
Member Since November 2020 - Comments: 7
5:34 PM, 22nd November 2020, About 6 years ago
Reply to the comment left by neilt at 22/11/2020 – 17:19
Definitely. Solid gold house owning guarantors is always great, but it’s not always possible. I had a European doctor rent one of my places this year, with her family. She couldn’t provide a guarantor, but I was pleased to get her in the current market.
There’s always risk with insurance companies. But I think it’s a mistake not to get insurance at all. I’ve got a really good Insurance broker, and I’ve never had an issue with claims.
Member Since May 2014 - Comments: 218
7:02 PM, 22nd November 2020, About 6 years ago
Reply to the comment left by EvolutionBlogger at 22/11/2020 – 17:34
Point taken – cheers Evo