The Rent is Late! Now What?
If property management was easy, there wouldn’t be any need for property managers. One of the most difficult things for a normal person is to confront another person about their personal finance issues.
I personally never went to my landlord when I had financial issues. It actually puzzled me back then as to why my landlords thought I was the greatest. It was when I became a landlord, and started dealing with tenants with excuses instead of rent, that I understood.
People do experience financial hardships sometimes. If the problem is long-term, then they should just move out. That opens the home up to re-renting, relieving them of their burden.
It’s residents who have a hard time paying rent yet don’t or won’t move out, that can cause a challenge to the landlord or manager. It appears that some residents believe that the owners can help them with their financial problems, and may even become resentful when we enforce the lease. Fortunately, most get the message that we will not change our policies. Non-payment leads to the same results every month: late fees, posting, court date and eviction. It’s up to them entirely to stop the process.
There are always a handful of tenants that pay late. Consistent enforcement of a lease normally results in a reasonable relationship, even if they pay late frequently. Our tenants never get too late, because after the posting day, we send to the attorneys promptly. The court date is set well ahead of the end of the month. Because we never get complacent, the situation rarely goes to legal action.
What if the tenant is more than a month behind? Did you really think the situation would be turned around? I would consider the back rent as lost. The best course is a quick eviction.
If you are a landlord managing a problem tenant, consider taking the stress off your shoulders. We have learned to deal with tenants consistently, fairly and professionally. Confrontations from tenants roll off us like water on a duck. We have techniques that are fairly successful in getting the tenants to perform. Failing that, we have the experience in how to properly post, send to court and evict.
For more info, check us out at www.mybluesage.com