I really stretched myself to purchase a buy to let flat. Our son is at university and the idea is that when he’s ready to leave home he can buy the flat from me at the mortgage cost (we had to put 25% deposit down).
We engaged a letting agent to manage everything for a cost of 10% of the rent (the rent is £850 pcm).
The tenant has lived there since October last year. Since he moved in he has never paid the rent on time and usually in part payments over the month. Every time he makes a payment the agent automatically deducts the full charge of £85 and I have to chase them to claim it back.
When he doesn’t pay on the 1st of the month I get what looks like a standard email from the agent saying they have called and emailed him and are waiting for an answer.
I’m getting fed up with the tenant, I appreciate the rent is a lot of money but why take it on if he can’t afford it? We did agree to delay the payment payment date by a couple of weeks so it tied in with his salary payment. I’m also getting fed up with agent for apparently not giving a toss.
I’m tempted to go round the flat and explain to the tenant that we’re not landlords with a huge portfolio and we need the rent to pay the mortgage.
I would add though that the agent has carried out an inspection of the flat which came back as good.
Should we just suck up the late payments given that, so far, he has always paid in full? I’ve watched enough debt collector type programmes to appreciate it could be much, much worse.
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Re rent payment?
87 replies
newbelandlord · 09/03/2019 19:34
OP posts:
1Redacted1 ·
09/03/2019 20:21
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