What to do if your tenant is late with the rent payment
Being a landlord does have challenges and one problem that seems to crop up for every landlord in their career is tenants who are late with rent repeatedly. It's important that you don't let the tenant "slide" by without consequences, charge them the late fees written in the lease! Always treat every tenant in the same manner when they're late with rent.
At noon on the 3rd give reminder calls, emails or text messages that rent is due by 5pm today.
The first step is letting them know immediately that the rent is late. Add in the late fees in a late notice.
Attach the late notice to the homes door and have a witness. Don't accept rent without the late fees added. Tenants will think twice about paying rent late if they have to pay more.
Follow up the late notice with a phone call if you haven't received some sort of response within a couple of days after the late fee notice. Some tenants prefer text message or email.
Every states laws are different on eviction notices. Be sure you know your states property code! Most tenants pay up when they are given a one day notice to vacate! Follow the rules on these notices, because you want the judge to rule in your favor should the case go to court.
Eviction is the eventual outcome if your tenant is still delinquent with the rent then you have to move through the eviction process. No one likes this process, but if you are a landlord chances are you will run into this situation during your career.
Always report your delinquent tenants to the credit bureau. This helps prevent other landlords in their background checks from falling into this tenant's trap. Unfortunately there are some tenants who know how to work the system.