What Can You Do When Rent Is Unpaid?
Saturday, January 30th, 2010As a landlord, what can you do against defaulting renters? How do you cope with late rent payments? Read this article and know more.
for the purpose not to stand at a disadvantage with your renters in the future, each landlord should take due diligence when concluding a tenancy contract between the tenants and himself. You might have to consult an estate broker or a landlord lawyer on this matter so as to do a good job. However, the two parties should understand the terms of payments. Like the day the rent payment is due, how rent payment is to be made, who to pay to or where to pay or means of payment must be cleared. The landlord should also specify when rent payment is late.
If the period is understood by the tenant and he still went ahead and defaulted in payment, the landlord might do the following. One should however inform the readers that the steps to take against rent defaulter differ from State to State. There are few common ones that may be applied by an ailing landlord.
Issue a rent notice: the first thing to do in this case is to send a Notice of Rent to the renter; make sure the mail is received by him. This will announce him that his rent is late and that he is obliged to pay. Also inform him that late payment is breaching the tenancy agreement he appended to, and that the consequences of defaulting can mar his credit rating.
Make a phone call:
After 2 days you have served a Notice of Lateness and there has been no answer from the renter, you can make a phone call. The call is to find out what might be wrong. Calmly inform the lessee of the consequences of his action if he refused to pay by a specific time, you will commence an evicting proceeding against him. Another thing you may do is to send a Notice to End Tenancy Early for Nonpayment of Rent. Require exactly what you want from the tenant by a specific time.
Eviction notice/attorney letter:
Another thing you may do to follow up the steps previously taken is to inform your lawyer to write an eviction notice to the renter instructing him to pay or face the consequences. You must require that the renter should pay or face the repercussion of eviction. You must be specific about the time the payment should be made and be ready to follow the eviction procedures if the tenants declined to pay.
Eviction procedures:
At the end of the stipulated term, if the time elapsed and the tenant have not paid the stipulated amount nor vacate the property, then inform your lawyer to begin the proceedings to evict the renter. If not you don’t want to end up losing thousand of dollars as rent choose a lawyer vastly skilled in landlord/tenancy eviction to speed up the proceeding of the case.
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