Rental relationships mean that the owner of an apartment or house transfers their property for temporary use by the tenant. In return, the tenant pays rent and utilities each month. Sometimes, taxes and insurance are paid additionally.
There are situations when a tenant experiences sudden changes. For example - job loss, separation from their partner. Income decreases, which leads to payment delays.
Depending on the apartment value, a debt of 300 - 800 euros can accumulate over the course of a month.
Since our company represents and protects the interests of apartment owners (landlords), we respond promptly to such situations.
The most important thing is whether the tenant is willing to cooperate. If not - we terminate the contract, vacate the apartment, and use the deposit to cover losses.
If the tenant is willing to cooperate - we try to understand what happened and reach a solution.
If we manage to identify the reason for the payment debt, we try to assess ourselves whether the tenant will be able to "catch up". For example, during the height of the Covid crisis, a tenant who was a head chef at a restaurant lost his job. But considering his status and qualifications, we believed he would be able to find work. Our forecasts proved accurate, and by June he had paid off the debt.
Next, it is necessary to document the debt amount and agree on a payment schedule. We sign the schedule at a notary's office‼️ In such a case, it will be easier to enforce collection if the tenant fails to comply with the schedule.
The final stage - we regularly contact the tenant, request bank receipts to verify that they are making payments.
If you are experiencing difficulties with a tenant, the main advice is to communicate, talk, and reach a solution!
If you wish to purchase a quality property and individual approach is important to you, if you want to communicate with a real estate agent and lawyer in your native language, then contact our company KOM-INVEST! We will be happy to select a suitable property, answer all your questions, draw your attention to important details, complete the transaction, arrange your residence permit, and manage your property.
For more detailed information about obtaining a residence permit in Latvia, see here in different sections.
Have questions? We're waiting for your email or call!
Phone number: +371 29774775
Email: info@kominvest.com
Skype: KOM-INVEST