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outstanding rent own by tenants
brianpg
Posts: 1 Newbie
Hi
Can someone tell me if i can charge interest on outstanding rent owned to me and if so what % APR.
I have had the same tenants for 5 years but they have always owned rent which is now up to £4000.00.:(
Can someone tell me if i can charge interest on outstanding rent owned to me and if so what % APR.
I have had the same tenants for 5 years but they have always owned rent which is now up to £4000.00.:(
0
Comments
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How many months does that represent? What type of contract are they on? What country is this - Scotland?
1) interest is not your problem
2) remove the tenants
3) if you want the answer to your question, refer to your tenancy agreement0 -
Is there a provision in the tenancy agreement to charge interest on rent outstanding?
Quite honestly, interest is the very least of your problems. If they've always owed rent you should take steps to get shot of them. Either by issuing a S21 to bring the tenancy to an end or a S8 for two month's rent owed. Once you've got a court order you could apply to the court for your costs. If they don't actually have the money and no income either it may not be worth the time and expense. Just find yourself new and more reliable tenants.0 -
Snap.....!BitterAndTwisted wrote: »Is there a provision in the tenancy agreement to charge interest on rent outstanding?
Quite honestly, interest is the very least of your problems. If they've always owed rent you should take steps to get shot of them. Either by issuing a S21 to bring the tenancy to an end or a S8 for two month's rent owed. Once you've got a court order you could apply to the court for your costs. If they don't actually have the money and no income either it may not be worth the time and expense. Just find yourself new and more reliable tenants.0 -
How long have they actually owed this rent that it has managed to build up to 4K?It's not easy having a good time. Even smiling makes my face ache.0
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the APR rate should have been included in the original tenancy so it may be difficult to charge for this retrospectively if it was not included in the original tenancy.0
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Nb charging such interest is probably illegal in Scotland0
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