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What can we do if tenants don't pay rent? - Landlord Forum thread 169636

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What can we do if tenants don't pay rent? by Dave (AZ) on January 17, 2009 @12:51

If I rent my house to the tenants I mentioned below, and they can't pay it, what can I do then?

Only evict them thru court?
Or go to collection agency?
Damage their credit report?

Do we have the right to take the last two actions? what else can we do?

I am thinking of imposing a late fee of $50 after 5 days late, and $10 on each extra day.

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Re: What can we do if tenants don't pay rent? by M-bone (aka Monica) on January 17, 2009 @13:07 [ Reply ]
Does your State and/or local laws require that you give a grace period? If not, don't do it. All that does is change the due date without consequences to the renters.

If tenants do not pay their rent by the due date or grace period date (if you offer it) all you can do is begin eviction proceedings, follow through with a second cause of action suit for a money judgment. The judgment should automatically show on their credit report. You can turn them over to a collection agency as long as you have a court judgment against them. A $50.00 late fee is pretty minimal, is the rent at or around the $500.00 range?
Also, check your laws regarding the late fee, some States cap what you are allowed to charge.

Re: What can we do if tenants don't pay rent? by M-bone on January 18, 2009 @01:03 [ Reply ]

I seen your recent post to your old thread with these people you are considering. I responded on there. Please make sure to read it.

If you by chance don't see it before you make a terrible mistake, I'll say it here. DON'T RENT TO THEM, PASS. Now go see what I wrote.

Re: What can we do if tenants don't pay rent? by Terry (ca) on January 18, 2009 @01:22 [ Reply ]
Don't rent to tenants with a high debt/low credit score and that you are already worried about what to do if they don't pay!

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