As a landlord, one always hopes that the tenants would pay the rent on time. Besides posing financial issues, non-payment of rent can prove to be emotionally taxing. Landlords need to be prepared to face an unpleasant situation such as this. With that said, here are some questions to ask yourself when a tenant doesn’t pay rent.
Is the tenant trustworthy?
If the tenant has occupied the property for a considerable period of time and has been a responsible citizen, you would be more inclined to trust the individual. While it is true that you cannot completely trust someone, it is important to judge this on merit. As a general rule of thumb, you could exclude those tenants who have been around for less than six months.
Is the tenant temporarily struggling?
You need to be sure that the tenant’s financial troubles are actually temporary. It is possible that they had unusually high expenses such as medical bills or auto repairs to pay that may have left them a few dollars short of the outstanding rent. As long as the expenses are not worth thousands of dollars, you could afford to keep the tenant and let them pay as soon as possible.
Does the tenant consider it serious?
It is wise to meet the tenant in person to see if they may consider other means of payment. This could include such things as taking on a roommate or getting government assistance. If you get the feeling that the tenant is simply not willing to make hard choices to address the situation, there is little point in retaining them. If the tenant agrees, you would need to allow them some extra time to make the necessary arrangements.
Non-payment of rent is a serious issue, which makes it important for you to ask yourself these questions when the tenant is unable to pay.
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