Late rent help

[David Dorau]

Hello BP community, On 4/1 I closed on a building that has 3 residential units. Rent was overdue on 4/5 according to the lease in place. I had zero rent payments on 4/5. I sent a mailing out introducing myself and extending the rent period until 4/15 for the change in ownership. (I realize this was too much time) Two of the three ended up paying by my new deadline. The other told me it was in the mail 4/15. I called her yesterday (4/19) as I still have not received it and she has not responded yet (30 hours). Her lease is month to month at this point and she also has a month overdue balance with the pervious landlord. Would I be better off starting eviction or giving the 30 day notice. I have never done either so steps would be helpful. I have only been a residential landlord for 20 days. Thanks for the help.

[Jered Sturm]

@David Dorau Welcome to land lording! dont sweat these things. They feel overwhelming in the beginning but after you go through it you start to realize all you can do is take the correct steps on your end. When I first became a landlord and property manger I would let the residents financial problems and decisions effect my personal life and stress level or thoughts through out the day. Dont do it! just figure out what you legally need to do to resolve the situation and do it and move on. 

If the tenant says it was mailed on the 19th tell him/her thank you for mailing it, however as a formality you need to serve him/her with a 3 day pay or quit notice (check on your states laws which form to use they vary by state). Inform them this is a formality that you have to take with everyone and if his/her rent shows up in the mail postmarked on your required date then you will disregard the pay or quit notice. If the rent does not show up then you will proceed to eviction at which time I would suggest contacting an attorney that will handle the eviction for you typically for a few hundred dollars depending on state. 

If the lease you inherited has a late fee implement it. 

I would personally never take a partial payment only the full outstanding balance. If he or she tries to pay partial I return it and inform them of our policies of not partial payment. 

Good luck. Once you get the hang of it and get tenants in that you screened it gets easier.