You hoped for a favorable outcome when you rented out rooms in a residential property in New Jersey. Unfortunately, not all your residents pay what they owe when they should.
SFGate offers tips for dealing with late rent payments. Learn how to handle the situation in a way that protects your rights and adheres to the law.
Do your research
Before contacting the tenant, consult the lease and your records. Check to ensure you did not make a mistake on the due date or amount owed. Your agreement could account for late rent payments and include a late fee.
Keep your cool
You may feel frustrated and upset when tenants pay rent late. Express your feelings, but do not let them show in front of your resident or in your correspondence. You and the resident entered a business agreement, so try to maintain a professional demeanor.
Visit the tenant
Rather than call or post a note on the tenant’s door, drop by for a visit. Let the other person know you want to work the issue out professionally and with dignity. Listen to why the person did not pay rent on time and how the two of you can work out a verbal agreement to settle the matter.
Follow up on the visit
For legal protection, if you and the resident reach a verbal agreement, follow up with a letter sent through certified mail. Other than noting the details of the agreement, including your legal options if the person does not follow through with your deal.
Common landlord-tenant disputes do not have to ruin your investment. With the right information and insights, you better understand how to navigate troubled legal waters.