HMO TIP #2 - Eliminate Rent Arrears With 3 Simple Steps
Rent arrears can be fatal for property investors. These are the 3 easy steps you can take to achieve zero arrears in your business. Simple but many landlords are not doing them!
Are You Having Problems with Tenants Not Paying Rent in your HMOs?
Sort Out The Problem in 3 Simple Steps
In this series of videos we’re sharing with you behind the scenes of how we run our HMO management business for success.
This week it’s another issue which really will pay dividends for your business. Literally!
We operate with zero rent arrears.
And here’s why…
Let’s look at what happens
On a 5-bedroom house with a room rate of £400 per room that’s £2,000 per month and £24,000 per year in gross rent.
If one person is not paying rent, you are LOSING £4,800 per year. Plus the additional costs and the time, worry and stress.
So it is important to manage this aspect of your business diligently.
We hear of landlords with tenants who haven’t paid rent in over 6 months and haven’t been served notice!
These 3 simple changes will have a big impact.
If you have problems with non-paying tenants, this video is a must-watch.