This type of offer has two types of debt classifications for the established sum due to the landlord.
Under the Assignment, flatfair offers to purchase the debt from the landlord that the tenant owes and has not paid under the limitations of the landlord's flatfair service. The landlord assigns their legal rights, benefits and causes of action to flatfair, under the terms outlined under the offer document.
Payment for the Assigned amount will be made in the next payment run once the required information is received.
Under the Appointment, the landlord has agreed to appoint flatfair as its authorised debt recovery agent to recover the established charge or the sum indicated in the offer. flatfair shall remit the sums to the landlord or managing agent as and when sums have been recovered from the tenants. This strategy will continue for up to 6 months or until our partners deem that the chances of recovery have fallen below 51%, at which point the case will be returned to you and you will be free to pursue the tenants directly, outside of the flatfair service.
If any information provided to flatfair is false or contractual assurances are breached, the offer may be withdrawn and landlords may be liable for any sums incurred.
In order for an offer to be issued, terms and conditions must be adhered to in line with the flatfair service and the obligations of the tenancy agreement. You can find out more about our discretionary model here.