Rent Collection and Arrears Control
Ninety nine percent of Let’s Rent tenants pay by direct debit. The small percentage that aren’t are generally on company leases. By using this method and having zero tolerance for any arrears, even if it’s just one day it’s late, we’ve been able to reduce our arrears to less than half a percent of our portfolio on average as measured at the end of each month.
Our management of arrears starts before the tenant has even moved into your property. As part of the induction process, when a tenant is signing the lease, they sign to say that they understand Let’s Rent does not tolerate arrears and any arrears in rent is a breach of their lease agreement.