7 Tips on How to Deal With Late Rent!
1) Avoid getting angry and maintain your composure! Landlord-tenant relationships are important business relationships. Losing your temper and becoming angry with your tenant will not assist in resolving the issue. Instead, hide your emotions, remain professional and provide your tenant with options.
2) Review the terms of your tenant’s lease to ensure you are holding your tenant accountable to the proper terms. Especially if you manage more than one property. Ensure you do not set a precedent by accepting late payments on a regular basis without acknowledging and addressing the issue with him/her as this will work against you after you finally decide that you have had enough.
3) Contact your tenant in person to address your concerns. Avoid emails or phone calls as a lot can be lost in translation and you want to ensure the delivery of your message is clearly articulated. Sending a letter or leaving a note should only be used a last resort.
4) Avoid conveying threats but let your tenant know the legal actions you can take in case the terms of the lease are not upheld.
5) Follow up with your tenant and amend the lease if needed. Consider revising it to add any special conditions that may have resulted in late rent payment. Then, send your tenant a copy of the changes via certified mail.
6) You can also report their ongoing payment delays to the credit bureaus. This will motivate your tenant(s) to comply with the terms of your lease and submit their rent on time.
7) Seek legal remedies from your local landlord-tenant commission or council. Alternatively, look for other legal authorities. In several communities, you are required to file a formal complaint if you wish to garnish wages or move forward with an eviction.