Hello!
I have had a couple of instances where rental payments by my otherwise regular tennants has missed a cut off date by 1 or 2 days.
For example, the agent collects 2 payments each month. The second should be at the agent by the 30th for example. The agent does a 'check run' on the 1st or 2nd.
Now of course, the agent is not going to give me the missing rent, but in my case the tennant has come in and payed promptly on the 1st or 2nd. Now i feel that in this instance, the agent should get there act together, and pay that missing rent into my account ASAP after they get it.
Instead, they hold onto that rent that is owed until the next cheque run at the end of the month. So effectively holding onto missing rent for 3.5 weeks.
This is simply wrong as far as i can see. I run a tight account with outgoings, on the IP coming from the same account as the rent going in and when this happens it really messes my account keeping up.
I should add that on instances before, the agent has actually charged me bank charges!! their bank charges!! This makes this situation even worse.
How would they like it if i charged them interest on the missing rent for 3.5 weeks!
Basically, what is the legislation on this. Is it just an agent thing or is this what they are allowed to get away with??
thanks
I have had a couple of instances where rental payments by my otherwise regular tennants has missed a cut off date by 1 or 2 days.
For example, the agent collects 2 payments each month. The second should be at the agent by the 30th for example. The agent does a 'check run' on the 1st or 2nd.
Now of course, the agent is not going to give me the missing rent, but in my case the tennant has come in and payed promptly on the 1st or 2nd. Now i feel that in this instance, the agent should get there act together, and pay that missing rent into my account ASAP after they get it.
Instead, they hold onto that rent that is owed until the next cheque run at the end of the month. So effectively holding onto missing rent for 3.5 weeks.
This is simply wrong as far as i can see. I run a tight account with outgoings, on the IP coming from the same account as the rent going in and when this happens it really messes my account keeping up.
I should add that on instances before, the agent has actually charged me bank charges!! their bank charges!! This makes this situation even worse.
How would they like it if i charged them interest on the missing rent for 3.5 weeks!
Basically, what is the legislation on this. Is it just an agent thing or is this what they are allowed to get away with??
thanks