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Rent not paid on time

Discussion in 'General Property Chat' started by ross100, 5th Apr, 2016.

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  1. ross100

    ross100 Well-Known Member

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    When do you send a warning letter to the tenants if they have not been paying on time (since 2-3 months)
     
  2. Hodor

    Hodor Well-Known Member

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    Are they 2 months behind or slightly behind for two months?

    I get my REA to call day one and letter day 10.
     
  3. D.T.

    D.T. Adelaide Property Manager Business Member

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    Slightly different in each state. I'll write an article on this soon, but gist is :
    1. Start reminding tenants from day 1, then frequently afterward
    2. Send notice at 14 days minimum in most states
    3. Give 7 days notice in most states.
    4. Arrange tribunal if needed.

    @Lil Skater is a PM in Melbourne (assume property is same state as you?) who might be able to give you local specifics.
     
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  4. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    Don't know the rules but a good pm should send them a text or email or something the day after they don't pay. Why would you want to wait 2-3 months?

    The sooner you know why they can't pay the sooner you can work out a solution
     
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  5. Nick Valsamis

    Nick Valsamis Well-Known Member

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    There is also the possibility that his tenants are continuously paying late all the time but not late enough to warrant a termination notice.

    In this case there isn't much you can do besides warning the tenants, unless you want to terminate the tenancy to find new tenants.
     
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  6. ross100

    ross100 Well-Known Member

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    Thanks for the input guys, they been paying rent late since 2 -3 months, i guess a warning letter to the tenants then.
     
  7. Squizbo

    Squizbo New Member

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    Another option is to talk to them. If they are constantly late in paying, it may be that the due date doesn't work with their pay day. If they constantly pay 3 days late, ask them to pay 3 days (or 1 extra day per payment until you reach 3 days) to take them to their pay day. Show them what their ledger looks like and ask them "if you were a potential landlord or agent and see this ledger, would you rent to you?". Most tenants do not understand that this can affect them later. You want to avoid them being stuck at your property because they can't find something else and you being stuck with them if they are poor payers. It may be that you can train them to be better at being a tenant.
     
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  8. tavinium

    tavinium Well-Known Member

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    I'd start from day dot. The moment it's late you need to be all over it like a rash. Or have a good PM do the leg work.
     
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