If you’re a landlord facing issues with problem tenants who refuse to vacate your property, you may need to consider obtaining an accelerated possession order This legal process allows landlords to regain possession of their property quickly and efficiently However, like any legal procedure, obtaining an accelerated possession order comes with its own set of costs that landlords need to be aware of.
The costs associated with obtaining an accelerated possession order can vary depending on several factors, such as the complexity of the case, the court fees, and whether or not you choose to use a solicitor In this article, we’ll break down the different costs involved in obtaining an accelerated possession order to help you better understand what to expect.
Court Fees
One of the main costs associated with obtaining an accelerated possession order is the court fees These fees vary depending on the type of accelerated possession order you are seeking (standard or fixed date), as well as the value of the property As of 2021, the court fees for obtaining an accelerated possession order range from £355 to £445 It’s important to keep in mind that these fees are subject to change, so it’s best to check with the court or seek legal advice for the most up-to-date information.
Legal Costs
While it’s not a requirement to have a solicitor represent you when obtaining an accelerated possession order, many landlords choose to seek legal advice to ensure that the process goes smoothly Legal costs can vary depending on the solicitor’s experience and the complexity of the case Some solicitors may charge an hourly rate, while others may offer fixed fees for specific services.
If you choose to hire a solicitor to assist you in obtaining an accelerated possession order, you can expect to pay anywhere from a few hundred to a few thousand pounds in legal fees However, having a solicitor by your side can help alleviate the stress of navigating the legal process and increase the chances of a successful outcome.
Lost Rental Income
Another cost to consider when obtaining an accelerated possession order is the potential loss of rental income accelerated possession order cost. The process of obtaining an accelerated possession order can take several weeks to several months, during which time you may not be able to collect rent from the problem tenant This can result in a significant financial loss, especially if you rely on rental income to cover mortgage payments or other expenses.
Property Damage
In some cases, problem tenants may cause damage to the property while refusing to vacate This can result in additional costs for repairs and maintenance before the property can be rented out again Landlords should factor in these potential costs when considering whether to pursue an accelerated possession order.
Eviction Costs
If the problem tenant refuses to vacate even after an accelerated possession order has been granted, landlords may need to take further legal action to enforce the order This can involve hiring bailiffs to physically remove the tenant from the property, which comes with its own set of costs Landlords should be prepared for the possibility of incurring eviction costs in addition to the costs of obtaining the accelerated possession order.
In conclusion, obtaining an accelerated possession order can be an effective way for landlords to regain possession of their property from problem tenants However, it’s important to be aware of the costs involved in this legal process before proceeding By understanding the various costs, such as court fees, legal costs, lost rental income, property damage, and eviction costs, landlords can make informed decisions and better prepare for the financial implications of obtaining an accelerated possession order.