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Cash Machine
Cash Machine
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I have some nightmare tenants who have been in my property for coming up to a year. The original tenancy has run out and I have issued a section 21 a few days ago. The tenant tells me they are ready to move out and have withheld this months rent and told me they have no intention of paying as they cannot afford to move without the funds additionally they have asked for their deposit money back immediately so they can potentially move quickly. I pretty much know they are just trying to get more money out of me and then not pay any more rent and stay until evicted.

However, I was wondering if there was any way I could put some money aside in a way that they can only access it once I have repossessed the property. I suppose I am looking at a way of reducing my losses. For Example if there was 1000 in an account which was help by a solicitor and he was under instruction to release the funds to the tenant once the tenants had left and this had been independently verified? I was wondering if anyone had ever done anything like this before to get rid of a problem tenant and try to reduce losses. Clearly If I were to just give them the money I am 99.9% sure they would not leave and just (effectively) rob me of more cash.... Alternatively, I guess I will have to let the Sec21 run and go through the eviction with a vague hope of ever recovering several months lost rent via some kind of CCJ.

01/04/2016 17:29

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