It’s your hope that you always maintain a good relationship with your tenant, but things could take a turn for the worse if they miss a payment.
Fortunately, there are several steps you can take to clear the air should your tenant stop paying rent. Here’s what you need to do:
- Review their past: Does the tenant have a long history of paying on time? Have they missed payments at certain times of the year in the past? The tenant’s payment history will give you a better idea of what you’re dealing with and whether they’re likely to get back on track.
- Contact the renter: Don’t assume that they’re attempting to hide from you. They may be dealing with a serious issue, such as an illness or job loss, which has put them behind. By contacting them, you open up the lines of communication.
- Issue a pay or quit notice: This outlines how much the renter owes, both in rent and late fees, as well as the date they must pay the money by. In Nevada, for example, you must provide a seven-day notice to the renter, requiring that they either pay what they owe or leave the property.
There is nothing more frustrating to a landlord than a tenant that doesn’t pay their rent on time. While it’s not the ideal situation, there are steps you can take to either collect the rent or remove the tenant from the property once and for all.
Understanding your legal rights as a landlord will ensure that you take all the right steps when communicating with and potentially evicting your tenant.