Online rent payments firm Flatfair has launched a free tool for landlords and letting agents to help set up rent payment plans with tenants if they amass arrears during the Coronavirus crisis.
Called Resolve, the tech has been launched as the government urges landlords and letting agents to talk to struggling tenants and work out payment plans rather than initiating eviction proceedings.
Once the courts lockdown ends and judges start to deal with evictions once more, the tool may also help satisfy the strengthened pre-action protocols to be introduced.
These will require landlords and letting agents prove they have worked with tenants to avoid legal proceedings before they can apply to the court for possession. A landlord who has or expects properties to fall into rent arrears can ask their tenant to upload proof of financial distress on to the platform such as a redundancy letter.
These documents can then be reviewed before a landlord proposes a payment plan which the tenant can accept or reject. Once the payment plan is agreed, both parties sign the documents electronically.
Any landlord, not just those who use Flatfair’s deposit alternative product, can sign up for Resolve free of charge.
“As the disruption caused by Covid-19 started to mount across the rental sector, we knew we had to build something that would help landlords not get left behind,” says Franz Doerr, CEO of Flatfair.
“This is a very uncertain time for landlords, most of whom work extremely hard to provide a good home to their tenants, and now see their livelihood put at risk.”
“Resolve will give landlords certainty that they can simply arrange a rental payment plan online with their tenants and electronically sign a legally binding agreement with everything clearly documented.”
Flatfair also plans to support landlords in recovering any outstanding rent as part of Resolve’s premium offering, which is being rolled out soon.
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