What If Your Tenant Is Not Paying Rent On Time?
Earning a regular monthly income is not the only thought that occupies a landlord's mind; there are also looming fears about future tenants. What if the tenant fails to pay the rent on time? What if they refuse to vacate the premises as and when asked? Questions of this nature keep popping into a landlord's head. Here we discuss what you could do in case your tenant has not been paying rent on time.
Communicate clearly
There is no hurry to take strict action such as eviction at the very beginning. The first step begins with clearly communicating with the tenants. It is very important to come out as professional while dealing with tenants. Threatening or personal attacks will create problems for you. Thus, it is better to adopt a friendly and firm behaviour while dealing with the clients. Reading inquiries and having open communication will help you create a good communication system.
Automated rent collection system
There are moments when tenants forget to pay rent. In such a case, the process of auto-pay or auto-deduct system will reduce the human error. However, it is only possible after a certain level of technology is being followed. You could also set reminders over texts or emails to alert your tenants.
When to go for an eviction notice
Ask the tenant as to when he plans to make the payment, the mode he would choose for making the payment etc. It is also important to know the source of income they would be using to make the payment. In case the tenants do not answer these questions, then you can serve the tenants with an eviction notice whenever possible. One of the best way to get your rent on time is to charge them with a late fee. However, make sure that this is clearly mentioned in the rental agreement.
Offer discounts
Discounts on payments can be a great incentive for your tenants. This can be done by setting the monthly rents a little higher. However, it may not be a feasible idea once you have agreed on a certain rent. These are just ways to attract tenants. You may want to try it as a last resort in case you find the tenant genuine.
In case the tenant refuses to pay rent or vacate home?
The rent control act is regulated by different states of the country. However, there are certain provisions which are same. In case the tenant is not paying the rent or vacating the home, then the landlord can approach the Rent Control Board. The Board will resolve the matter. In case the contentions of the landlord are correct and there has been violation of any of his rights, then the Board will ask the tenant to vacate the home.
Also Read: How Can a Tenant Avoid Eviction?