Not exactly a situation you want to find yourself in.
It never pays for you to let them pay their rent late, so just don’t let it happen. The bottom line is that you are the owner, you are in charge, you make the rules, you are the authority. This is your business, and they need to respect you and your policies. You’re not here to give your tenants a “get-out-of-jail-free” card.
Make Sure They’re Taking Care of the Property
You also want to ensure your tenant is taking care of your house and property, as per your lease agreement. This is an essential component of enforcing the lease. So how do you make sure they’re following through on their end of the bargain? Again, communication is key with property issues, just as it is with payment issues. Communicate with your tenant regularly. Ask for updates on any maintenance issues with your property and whether things are running smoothly and being taken care of properly. If you live in the area or know someone who does, you’ll want to periodically drive by the property to check out things for yourself. This will give you a general overview of the situation. Ideally, you should do a full-on walkthrough inspection of the entire home, including every room, about every six months. This will give you a clearer picture of the condition of your home as well as help you assess any issues or property damage.
Deal with Issues Immediately
If you have any issues with your current tenant or rental situation, the key is to deal with it immediately. Whether it’s non-payment of rent, maintenance issues, or property damage, the sooner you deal with it, the better.
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