Past due or delinquent payments costs you time and money. Here are five steps to rectify the situation.
- Check your Lease Documents and Payment Records for grace periods.
- Send a late rent notice. This is a piece of paper reminding the tenant that the rent is past-due.
- A phone call to the tenant to find out what’s going on. This serves to avoid accusations of harassment (which is very illegal). Try not to substitute an email for a phone call. Record the call if you can.
- Send a Pay or Quit Notice. This is a more official document than the late rent notice and is technically the first step in the eviction process.
- Take Legal Action. If all else fails, and the tenant still doesn’t pay, retain the services of an eviction lawyer.
If you, or any of your clients, would like direction on how to handle tenant payment issues and tracking, reach out anytime.
Coatue Companies is here to help…always, in all-ways.