Whether you have a single rental property or a large portfolio, you are likely to come up against the problem of late payments at some point. Tenants might lose their job, or simply abscond with no prior notice and without paying their rent. Whatever the reason for non-payment, proactively thinking about how you could collect those debts will save you time and worry if the worst does happen.
With this in mind, below is a list of debt collection agencies who offer a solution specifically for landlords:
Connect Debt Recovery
Specialising in helping landlords recover debt from non-paying or absconded tenants, the company operates throughout the UK.
- No win, no fee debt recovery and tenant tracing
- Face to face collection services
- Recover debts up to 6 years old
- One-off or unlimited debt recovery
- Tailored packages available
One of the main benefits of this service is the no win, no fee basis of operation. Your location is not an issue as debts/tenants can be traced throughout the UK. This company takes into account your specific requirements to tailor a package according to your needs and budget.
An unlimited Debt Recovery Membership Plan offering as much or as little help as you need costs from £99 for 1 year.
Legal 4 Landlords
Based in the north-west of England but with offices around the country, Legal 4 Landlords has been in business for more than 5 years.
- Tenant tracing on a no trace-no fee basis
- Licensed and certified bailiffs
- Guidance and advice on rent recovery procedures
- Rent recovery pre-court letters
- Tenant referencing
Legal 4 Landlords no trace, no fee pricing is a low risk solution to problems associated with absconding tenants. The company offers pre-debt services which add up to a complete package for landlords.
A rent recovery pre-court letter costs £25; tenant tracing is £60; and a small claims summons cost £225. All prices are exclusive of VAT.
The company offers its services to residential, commercial, social landlords and agents, and employs their own in-house lawyers.
- Company founded by landlords
- Recover debts for up to 6 years
- Money claim applications
- Enforcement services
- Specialist advice and guidance
One of the biggest benefits of using this company is that they were originally founded by landlords for landlords. In-house lawyers mean that applications and procedures are completed quickly.
Ex-tenant tracing costs £132; Money Claim online application £360; Warrant of Execution £220; enforcement by High Court Sheriff £360.