My Tenant Stops Paying Rent - Help! Posted By : Adam Labno
01.02.2010 00:01
Is this you who are looking for help, as you don't know what to do when your tenant stops paying you rent? If this is you, well you are just at the right place, as this article will discover each and every single detail that you can do to overcome such an undesirable situation. Let us begin.
I don't know what you did while allowing your tenant to use your property on rent, but if you are like the one who did investigation and re-investigation before letting out the property and still experiencing this situation, you must know that you are not alone. There are many landlords like you who did the same thing, but find that their rental checks suddenly stop coming in.
First of all, you must make a personal visit with your tenant and ask him about the reasons for non-payment. If he is able to offer you any logical explanation and if you find it satisfying at your situation, it is your wisdom whether you would be going to give him some time or not. If you find him arrogant and offering you illogical explanation, well this is the time to think otherwise.
There are property laws that would be helpful in such a situation. It is the time to look at your landlord-tenant agreement form and find out the clause that states about failing payment on time. You will definitely be able to find out the clause that describes that if your tenant fails to pay rent for X months, he needs to vacant the space. Moreover, you can take legal action against him due to non payment issue. So this is the time when you must seek help from a property lawyer and send your tenant a legal notice.
Don't take any wrong way and don't make your tenant harassed such as disconnecting their cable-wire or discontinuing water supply. If you do this, the tenant may take you to the court and the judge may not look at this issue in your favor. Though not getting rent on time is not a favorable situation for any landlord, but being cruel illegally over tenant may not be a good option altogether.
Another thing that you can do is to hire letting agencies and ask them to help you out professionally. They will help you in dealing with lawyer and with tenant as well. Since they are the experts, they can make better deal in your favor. Sometimes tenant may agree to pay a considerable amount of rent instead of the entire amount at a time. So whatever be the situation, when you hire a professional agency, they can make a better deal in your favor.
