Comments on: Rent Arrear Reminder Form

By: Property Genius

Property Genius — Sun, 07 Feb 2010 16:40:15 +0000

I manage over 900 properties which constitutes a large amount of rent each day coming in. It would be fair to say I have had my fair share of arrears to deal with! While we require our tenants to fill out a standing order form at the time of signing the agreement, I have to say it isn’t the saving grace the other comments have suggested.

The main issues I have are standing orders can be cancelled by the tenant at anytime and if there are insufficient funds in their account the rent will not be paid. The better way would be a direct debit which gives the landlord/management company control over the transaction but unfortunately is only available to larger companies (and at a large cost!).

Finally even if the tenant no longer pays by standing order and it is stipulated in the agreement, you would be hard pushed to have the tenants evicted, if at all, on those grounds (not to mention the time it would take to even get to court).

However, out of the other options, standing order is the best way, but still doesn’t help with arrears. There must be a better way! Loving the image of Samuel L Jackson. “Oh I’m sorry did I break your concentration?!”

By: Carlie Mayes

Carlie Mayes — Mon, 10 Aug 2009 09:22:06 +0000

we had some dreadful latepayers AND they left the house in an aweful state with over £3k of damage – I will be taking your advice and getting a standing order drawn up – never deal and cash again.
thanks for other advice – have put standing order info into contract.

By: Simon

Simon — Sun, 21 Sep 2008 09:47:58 +0000

They sure are!! And like you say get it in the contact as well.
If they then cancel the standing order you can boot them out easier!

It’s just a huge thing every month you don’t have to worry about.

All the best!
Regards,
Simon

By: The Landlord

The Landlord — Sun, 21 Sep 2008 01:20:48 +0000

Hey Simon,

I think we’re on the same wavelength!

I have new tenants moving in next week, and I’ve made it clear that they need to setup a standing order- even put it in the contract

Standing orders are the future!

By: Simon

Simon — Sun, 21 Sep 2008 00:00:41 +0000

Oh yes.. The dreaded late payers! The last guy I had in my house was a nightmare! Every month I had to chase him.

So.. With when the next one moved in it was standing orders all the way! 1st of the Month now I get my money. I told the person this was part of the deal and said I wouldn’t let to them without a standing order setup.

Touch wood she’s been in there 5 months now and I haven’t had a payment late by 1 day.

Maybe say to your person.. “I’m putting this in place as you always seem to forget. This will take that stress off your hands.”

I hate chasing people as well and it’s a great feeling knowing the money will just show up.

Also.. I find it’s a great test when you’re showing people. I just tell them upfront that it HAS to be a standing order.. If they make any kind of moans I show them the door.

All the best!
Simon