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IN THIS EPISODE
Your host Matt Harris of MiRentCo London & Steve Mitchell of The HMO Company talk about the 7 things you need to know about the eviction process for housemates, customers, tenants from your HMO property.
Having trouble with removing tenants from your HMO property? This episode of The HMO Experience Property Podcast is definitely for you so make sure you tune in!
EPISODE HIGHLIGHTS
- Introduction [00:00 – 02:50]
- Handling The Stress of Eviction [02:50 - 14:30]
- Understanding the Eviction Process [14:30 – 17:18]
- Consider Using Rent Guarantee Insurance [17:18 – 22:22]
- Always Go With Your Gut Instinct [22:22 – 30:15]
- Accept The Loss Or Debt Recovery? [30:15 – 40:26]
KEY TAKEAWAYS
- Ensure that you have a clearly defined process and trigger points regarding your non-payment of rent. Once you have hit that trigger point then act and move forward with the eviction.
- Being a member of a professional trade body such as the RNLA with a legal helpline so that you can check your actions to ensure that you are not breaking any regulations relating to eviction.
- Understand the whole process of eviction before you start the process of eviction. Decide whether you are going to serve notice yourself or whether you will employ a professional service such as Landlord Action to manage the process for you.
- Consider taking out a Rent Guarantee Insurance policy with legal cover so that the eviction process is carried out by your insurance companies legal team.
- Consider whether it is worth investing more money chasing down small amounts of debt or whether it is better to focus on getting new customer and get the rent coming in again. Have a trigger point where you will make a conscious effort to chase outstanding debt.
- Ensure that your documentation is absolutely accurate if you decide to pursue the debt. If it goes to court you will be required to demonstrate all documentation has been properly completed and served in accordance with legislation.
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