COMMERCIAL LANDLORD DEBT COLLECTION

The problem of unpaid rent during the coronavirus crisis

The current coronavirus crisis is proving to be difficult for almost everyone in the country. It is slowly becoming apparent that a recession is more than likely, and renters up and down the UK are already struggling to pay the bills on time.

While commercial and residential landlords are being encouraged to allow renters extra time to pay rent at the moment, it’s not always that easy. Many landlords rely on rental income to pay off property mortgages, and others may rely on this income simply to put food on the table.

It’s estimated that coronavirus could cost landlords nearly £14.9bn if renters defect on payments during the three month support period announced by the government.

What will happen when COVID-19 is over?

It remains uncertain just how long the UK’s current COVID-19 outbreak will last, and how great the economic aftershocks will be. What we do know is that many businesses will struggle to pay bills until the crisis is over, and by the time the UK emerges from lockdown landlords will be desperately in need of recovering rents.

While some businesses will make efforts to back pay what they owe quickly, many won’t, and this will cause problems for commercial property owners across the nation.

What should landlords be doing now?

The best thing you can do now as a landlord is to communicate clearly with your tenants what your expectations are. Be understanding about the predicament they face, but also be firm; make it clear that missed payments will be noted down, and that you will expect them to pay this money back as soon as possible once the pandemic is over.

Stay in touch with your debtors to ensure that they are aware that their debts are not simply going to go away. Don’t forget that long-term, responsible tenants can sometimes be hard to come by; it’s important to maintain a balance between being firm and being sensitive to ensure that you don’t lose good tenants, without risking losing out on what you’re owed financially.

How can I ensure unpaid rents get paid?

Once the crisis is over, no doubt many landlords will struggle to recoup their debts. If you try to communicate with your tenants about the debts they owe and only get back excuses, then it may be time to call in professional help.

Nightfox are specialist debt collectors with expertise in tracing debtors. We use both face to face debt collection and tracing assets to get money back.

If the total of the debts you’re owed is under £5000, the process for having it collected can be quite straightforward and we can be instructed online (link). Collecting debts of over £5000 can be more complicated – but this is no reason not to follow up on such a large sum of money and our experience can help ensure you get your money back.

Whatever your problems, Nightfox can help you to recoup debts whenever you need us.

Just get in touch for more information about our services and methods.

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B2B Debt Recovery

Business to Business debt can be crippling for any size of companies cashflow, it’s important to act decisively and quickly with any B2B debt.

Nightfox Enforcement Agents have particular experience and knowledge in recovering accounts in the construction, consultancy, distribution, recruitment and wholesale sectors.

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Personal Debt Recovery

Whether its a personal loan to family/friend, unpaid service fees or even a bounced cheque for goods, Nightfox have a proven track record of recovering your debt.

Our professional, ethical and direct Private Debt Collection approach delivers superb results and sees a market leading recovery rate, sometimes as high as 90%, for all undisputed private debts. Contact us now to start the process.

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Asset Recovery

Repossession of assets, primarily motor vehicles are carried out damage free by our highly experienced field operatives, who all share the same philosophy which is to treat our customer’s customer as we ourselves would wish to be treated in such circumstances. All operatives abide by strict codes of conduct and work to our exacting service level articles. Contact us now to start the process.

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  • Specialists In Face to Face Debt Collection Since 2006

  • There Are No Hidden Costs, What We Quote Is What You’ll Pay

  • We Will Wipe The Grin Of Your Debtors Face

  • We Action Each Case Within 24 Hours

  • Advanced Systems Providing Real-Time Information

  • 75 Years Combined Experience

  • We Ensure That You Will Have The Last Laugh

  • You Wasted Time Getting A CCJ? – We Will Collect It

  • High Court Enforcement

  • Court Order Recovery

  • Personal Debt Collection

  • Large Debt Recovery

  • Overseas Debt Recovery

  • Private Investigation

“Very Professional, Fast and Good Old Fashioned Debt Recovery. I had my debt recovered and was very happy with the outcome, my debtor had told me that they were not paying me and had offered me £1 per week before I got Nightfox involved. Nightfox seem like a really old fashioned debt recovery company and after meeting my contact, I understood why and how they do this, he is a mountain of a man yet very intelligent. I was told all my debtor needed was motivating to pay and boy did they do that. Communications with the office could be better but as Natalie said ‘we are better served collecting debts than updating clients constantly’ This company performs well, they will send reports on the visits when asked and all in all do a brilliant job. I would recommend highly and have already done so”

Mr Donal Macwhirter

“They do it the old fashioned way. I was owed money by an online fraudster and after applying to the county courts and getting no help at all from them after 6 months I lost all hope. I was advised by a colleague to call Nightfox. After a chat with members of the Nightfox team and listening to their advice I started to feel more comfortable and knew they would endeavour to track down this fraudster and get my money returned. Well, they tracked the debtor down and had my money returned. If I’m ever placed in this situation again I will definitely be calling on the services of Nightfox and would advise and recommend this firm to anyone. Well done Nightfox, outstanding work and a BIG thank you to you all.”

Liam N

“After months of trying to settle an outstanding balance for a kitchen I had fitted for a customer and getting nowhere I contacted Phil from Nightfox Investigations and explained my case he was more than happy to invest his time and effort into retrieving the outstanding balance I cannot thank Phil and Dave from NightFox enough as I was thinking it was a lost cause Phil assured me he would deal with the matter which he did, thanks again Nightfox team I would recommend you to anyone with the same problem”

Stephen Fagan

“Paid back today debt of £19,000 just deposited in my account thanks to Jason Doyle. I had written this off and thought I’d never see it. Keith came to see me and put me at ease and asked me to be patient, which I was. I gave them a few weeks, called and they were expecting payment that Friday. Here I am now able to trade that little bit longer. Despite my supplier saying they wouldn’t pay me and to ‘do what I had to’ they certainly paid Nightfox and cannot thank them enough. A special thanks to Gemma for paying me early.”

Doss L

“Simple solution to a year long problem! My company instructed Nightfox Investigations to recover from another company that we did subcontract work for. They were paid many months ago but claimed they hadn’t been, we heard they had, so instructed Nightfox. I was impressed by their body-cam footage and the fact they visited straightaway, it took them a little under a month to get all the money back including my costs. I cannot thank the team enough and even accepted being told off for calling everyday, sorry… It was all too exciting for my finance team.”

Karen & Liam Waterworth

“Phil will not take no for an answer. When your invoices and calls are being ignored give Phil at Nightfox a call, he will not be ignored and will not be fobbed off.”

Kim Woodhead – MD Pace Fire and Security

“Simple solution to a year long problem! My company instructed Nightfox Investigations to recover from another company that we did subcontract work for. They were paid many months ago but claimed they hadn’t been, we heard they had, so instructed Nightfox. I was impressed by their body-cam footage and the fact they visited straightaway, it took them a little under a month to get all the money back including my costs. I cannot thank the team enough and even accepted being told off for calling everyday, sorry… It was all too exciting for my finance team..”

Emily Porter

“Many thanks to all the team at Nightfox Investigations & Debt Recovery Limited, from the initial enquiry I made to you guys, to the meeting I had with Phillip Dunn you guys really did take the stress away from what has been a ridiculously hard 2 years, not only was I let down by my lawyer for whom clearly regarded myself and my wife as an open cheque book, but also the system as a whole clearly favoured my debtor and not ourselves, it is hard to put into words to explain how eternally grateful we are to Nightfox and receiving full payment of our 42k and costs will really change our lives going forward, (Phil my promise of a nice 12 year old single malt is on the way to you this is the least we can do for you) my advice to anybody owed money do not waste time and money with lawyers, if you are lucky enough to meet Mr Dunn then you will clearly get to see first hand why these guys and his team are paid.”

Mr and Mrs Edmondson