f you have been a landlord
for longer than a year, How should you deal with this
chances are you have run tenant? There are several steps
across a tenant who does not pay you can take to help them get the
rent on time or worse, doesn’t rent to you on time, every month.
pay the rent at all. This is a
common problem for landlords and The first step you can take is to
the best way to handle it is to be firm is from the start. When
be firm, fair and consistent with you sign the lease with a new
this problem tenant. tenant inform them that the rent
is due on the first of the month
We have all experienced it. Rent and they will be paying late fees
is due on the first; here we are for every day the rent is late.
on the third and still no check. Tell them that communication is
You call the tenant who tells you key and to call you if the are
that “the car has broken down and going to be late with the rent.
needs to be fixed so I can work” It’s up to you if you are going
or “my check doesn’t clear until to give them a grace period or
Monday, I’ll have it for you waive late fees the first time
then”. Monday comes and you hear rent is late if it’s not
“I’ll have the money on Wednesday habitual. This way you are the
for sure”. one calling the shots, not the
tenant.
As soon as you let the tenant
start calling the shots, they The second step is to enforce
won’t stop. Next month they will late fees every month. Tenants
remember the power that you have hate to pay extra rent and when
relinquished and will stretch they know you are going to charge
rent collection out all over them $5 every day the rent is
again. late they will make every effort
to get that rent to you on time. additional days before the
Charging late fees and more landlord can file to repossess
importantly enforcing late fees the apartment because of the
also takes some of the stress out requirement to deliver the 10 day
of not having that rent in hand. notice.
You know you are making $5 extra
per day and if they don’t pay the The fourth step is to leverage
fee immediately you can deduct it the power you have over the
from their deposit at any time. tenant’s rental history by
Be sure to inform them you made reporting them to any or all of
this deduction and don’t let the the different credit bureaus and
security deposit go to low using tenant databases. To report to
this method. the credit bureau you need to pay
for membership to a service that
The third step is, when the rent can submit this for you. To
is 2-3 days late, issue a 10 day report them to the Deadbeat
notice to pay rent or quit. It Database you need to join their
doesn’t matter how nice this website which costs about $70.
tenant is, or how great your Finally, the free option is to
report is with this tenant. This join the FreeLandlordSoftware.com
gives you the OPTION to file for which gives you access to a
repossession. Chances are they database for landlords to post
will pay you before you have to and browse tenant rental
repossess the apartment but histories for free. Whichever
incase they don’t pay you, you option you choose, you should
can file after 10 days. A lot of inform the tenant of your
landlords wait too long to issue intention and this may encourage
this 10 day notice. By the time the tenant to pay what they owe
they want to start the legal you.
path, the tenant will have 10
Remember, you are the one with give up the control and you are
the control. It is your property the one that will loose.
and it’s up to you to protect
your investment. When you apply Remember, be firm, fair and
the pressure to pay the rent consistent with your tenants and
early in the process, you can you will always keep your losses
always ease up after you are at a minimum.
paid. When you wait for the
tenant to string you along, you
About the Author:
Corey Bornmann is a landlord and founder of Free Landlord Software, a website for landlords providing lease and form downloads, web-based management software, articles and more. For Step Families Support see http://oneFamily.BornmannFamily.com.
Read more articles by:
Corey Bornmann
Article Source: www.iSnare.com 
