Do you have tenants who just aren’t paying rent? It’s one of the most frustrating aspects of being a landlord. In this article, we’ll talk about how Florida landlords are dealing with tenants who don’t pay rent…
If you have tenants who aren’t paying rent then you’re facing the same dilemma that many landlords go through at least once. It’s frustrating and unfortunately, your options are limited. Here’s how Florida landlords are dealing with tenants who don’t pay rent.
Of course, the best defense is a good offense – meaning that if you are careful about doing a background check on your tenants, you can run credit checks as well and have the tenant provide employment info. and references. But here are your other options…
#1. Avoid the situation
You could avoid the situation and hope they pay. This is definitely not the best option but it is an option that many landlords take. You can just ignore it and hope they’ll pay on time next month and maybe even catch up. Frankly, it may not happen (it rarely does) but it could happen so we’re including it here as a possibility. When dealing with tenants who don’t pay rent, we don’t recommend this strategy because it opens the doors to the possibility that your tenant will take advantage of you. One idea to stop this from happening is by adding a late fee if they pay late to motivate them to pay on time. The laws about how much you can charge vary from by state, so you’ll want to check local statutes. For example, Chicago landlords are allowed to charge a maximum of $10 per month on the first $500 of late rent plus 5% per month on the portion of the rent over $500. That means if you were to have a $1500/month lease, you could charge a late fee of $10 + $50 = $60. This is the legal maximum.
You could negotiate with them because maybe they just need a different payment schedule. Not everyone can pay easily each month; some renters can pay better by the week because it’s a smaller payment. Or maybe you can get them to do some work around the property in exchange for a discount on the rent. If you choose to negotiate with your tenant, make sure you get an agreement from them that works for both of you, otherwise, you’ll just feel even more frustrated!
You can try to evict them, although be aware that this can be a complicated, time-consuming process that may involve some legal hassles too. Eviction is very difficult to do, especially since many laws favor the tenant over the landlord. It may be worth doing this in the long-run, though, if you can get a paying tenant into your rental property. If you have to evict
Another option is to sell. If this is just one of many frustrations you’re facing with your rental property then it could be your best option! Just imagine selling the property and getting on with your life – and not having to deal with tenants their annoying troubles any longer. Many landlords love the new-found freedom they get when they sell.
What you can’t do
- You can not just show up at your property even though you own it. You need to have a valid reason and you need to let them know ahead of time.
- You can not harass your tenants as this is illegal.
- You can not ‘help’ your tenants move or physically put there stuff on the street. When evicting a problem tenant you must be careful to not make an illegal eviction as this can lead to legal action.
If you have any questions or concerns about what you can or can’t do when dealing with a problem tenant read more here: https://www.floridabar.org
At Now Home Buyers we buy frustrating rental properties from landlords like you who are burned out, worn out, frustrated, and who just want to get their lives back.
Dealing with tenants who don’t pay rent? Click here now and fill out the form or give us a call at (954) 634-5755 to get a fair fast cash offer from us today.