Are tenants likely to refuse to leave if they cannot pay the rent anymore?

steampowered

Yes, tenants who can't afford the rent are likely to stay in place.

Councils will generally advise people to stay put, and will only re-house people once they have been evicted by bailiffs.

vietnamica

steampowered said:

Yes, tenants who can't afford the rent are likely to stay in place.

Councils will generally advise people to stay put, and will only re-house people once they have been evicted by bailiffs.

Thank you. So who will pay the monthly rent to the landlords while they wait for the bailiffs?

greatcrested

vietnamica said:

steampowered said:

Yes, tenants who can't afford the rent are likely to stay in place.

Councils will generally advise people to stay put, and will only re-house people once they have been evicted by bailiffs.

Thank you. So who will pay the monthly rent to the landlords while they wait for the bailiffs?

It will come out of the budget you put together when you did your business plan. It's one of the costs of running the business.

Think of it like having to pay to replace the boiler if it breaks irreperably - an expense you hope won't arise, but which might,and for which you must budget in your plan.

grumiofoundation

vietnamica said:

steampowered said:

Yes, tenants who can't afford the rent are likely to stay in place.

Councils will generally advise people to stay put, and will only re-house people once they have been evicted by bailiffs.

Thank you. So who will pay the monthly rent to the landlords while they wait for the bailiffs?

If the tenant(s) can't or won't pay and you don't have insurance or your insurance doesn't cover the rent payment (various reasons why wouldn't and won't always cover 6+ months rent even if have tenant default cover) no-one will pay it. 

If you didn't plan for non-payment of rent when planning to go into business as a landlord what else did you miss?

As I said earlier in thread - if you can't afford to not receive rent - don't become a landlord.

Comms69

vietnamica said:

steampowered said:

Yes, tenants who can't afford the rent are likely to stay in place.

Councils will generally advise people to stay put, and will only re-house people once they have been evicted by bailiffs.

Thank you. So who will pay the monthly rent to the landlords while they wait for the bailiffs?

No-one I suggest you don’t become a landlord

AdrianC

vietnamica said:

steampowered said:

Yes, tenants who can't afford the rent are likely to stay in place.

Councils will generally advise people to stay put, and will only re-house people once they have been evicted by bailiffs.

Thank you. So who will pay the monthly rent to the landlords while they wait for the bailiffs?

Nobody will. But, ultimately, they can pursue the tenant for the debt through the courts. Whether that's likely to actually bring any money in is another question...

A sensible landlord plans for bad debts and voids when they're working out the likely profit margin of their business.