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butterfly | What do you do when a renter is always late with his rent .he is a friend of my husbands .? |
we live out of state so it is hard to keep up with him. i want to send him a stroung messige we allso charge him less so we are still out of pocket |
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Open Book Advisors™
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You raise the rent.
If you have to stress not knowing if you're going to get paid or will have to evict, then make it worth your while.
I would send a rent increase notice of atleast $150.
I would forward the notice by registered mail with an addendum to our rent agreement that says
as of _________(date) rent shall be (new amount) due and payable on the 1st. We do not accept partial rent payments at anytime. Should full rent not be received by the 2nd... eviction proceedings will being.
He may call and say "hey whats up are you pissed at me?' and you can say NO....I just need rent to show up on time and I cant afford to help you pay rent anymore.
If rent arrives before the 1st a discount of $50 will apply. If he's been there longer than a year you need to give 60 days notice.....or if its an increase of over 10% - 60 days notice...in my state anyway.
People are motivated by saving $ than by being penalized....that's why women see nothing wrong with rushing to the 'sales' at the department store and putting the purchase on a 21% credit card. Penalties are ignored while discounts are not. If he pays discounted rent after the first...it is a partial rent payment and I would not cash it. I would send a 3 day quit and make him issue a full amount.
This way if you ever have to start eviction proceedings you will be able to evict on the full rent amount. If you just tack on late fees........you can't request late fees in any preeviction notices to pay rent. Late fees are kind of a joke. I know my tenants aren't going to pay them each month for the most part........so I keep track and take out of their deposit or I do the early rent discount. Works well.
I also have a no excuses policy and provide pre addressed (i have a stamp) envelopes and I put postage on 12 for the first year, (cost is cheap) I also have a bank account just for deposits that I give a magnet with my acct # on it for them to make direct deposits into that acct by writing their address on the deposit slip. I'll even do paypal if they need to put rent on a credit card..........the more options you give them the less excuses they can use. If they don't pay or avoid you, you know its not an oversight and start proceedings.
I would never be out of pocket for a friend.....He is no friend at all if you are subsidizing his rent. Charge his fair rent for the market.
I question someone's character when you are already giving him a discounted rent and he doesn't pay ontime. |
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Karrien Sim Peters
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I have been there and done exactly that! You need to get him out. There is no easy way around it. Money is money and it will ruin a friendship. A good renter is one that pays on time and takes care of the place. You need those 2 things in order to be a success. Once late and not caught up you will never get your money back. It is just fact. |
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peaches6
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Start tacking on late fees. |
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Goldenrain
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Get used to it, as long as he's paying it. If you haven't already done so, next time put a clause in your contract that specifies the due date and if it is paid after it, whatever you deem okay, there will be a penalty (additional owed on top of the usual rent). |
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Monstblitz
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Let him know that if he doesn't pay the rent on time, you suffer. Make sure he understands that you require the rent to pay your mortgage on time (even if it's not the case). Tell him If he's late on the rent, you're late on your mortgage.
Be professional about it and try not to lose his friendship, but at the same time make sure he knows that if he can't pay on time, you'll have to ask him to find another place to live. Just handle it the right way. If he does continue to pay late make sure you give him at least a month to find different living arrangements.
Make sure you address this sooner rather than later, otherwise you and your husband will become more upset, and be more likely to lose your cool over the situation.
Good luck! |
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acermill
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Business and friendship don't always mix well, as you are discovering. There is no reason for you to charge this guy less than the going market rate for your property, and there is absolutely no reason he does not pay on time, especially since he's getting a good deal.
You need to treat him like you would any other tenant. When he's late, send him a three day notice to pay or quit. If he fails to respond properly, move forward with an eviction process. You can do better than you have with this lout. |
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smartypants909
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Give him a grace period of 10 days and then charge him a late fee, maybe 10%, to get your message across. |
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wishiwereatthebeach
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Unless you have a lease with him and something clearly stated about being late and you charging late fees, there isn't much you can do. At least he is paying, right! |
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Stephen Jagger
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Late fees are usually a good way to get their attention. |
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Debbie
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I had the same problem with my renter recently. I also kept the rent low to give a friend a break. WRONG! They just took advantage of me. So I am in the process of eviction. Since you are out of state I would start putting a late fee on the rent. Like maybe $10 for every 5 days they are late. If it is going to inconvenience you then they should have to pay for it. I would also raise the rent to cover your expense. Why should you have to pay rent for someone else? Good luck to you! |
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kramerdnewf
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If you can afford the cut that they get, hire a realtor to manage the property. |
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kate1276
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Tell him that you guys are doing him a favor because he is a friend of your husbands, but he needs to be on time with his rent or you will be forced to give him notice and start looking for new tenants that will cover most or all of the mortgage. Keep track of all late payments, everything in writing has more value as proof. |
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golfengineer3
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Get your husband to take care of the deadbeat.
Isn't the renter taking advantage with the friendship? |
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_nicole_
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Tell the renter there will be late fees incurred if he/she pays late. Send them a letter stating that starting in 30 days, there will be a late fee if the rent is recieved after the 5 day grace period. Explain to him you can find other tenants that will pay more and on time. You are doing him a huge favor by charging less-he should be thankful and pay timely.
I recommend you do what my grandpa used to do, charge $5-$10 dollars a day for each day the rent is late. This should get him on track! Since this is your hubby's friend, your hubby needs to back up this decision. Just because he is a friend, does not give him the permission to take advantage of you.
Good Luck! |
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