3rd month in a 2 yr lease late rent, not paid water once Colorado

[Jennifer McPherson]

So I am a newbie - and it seems like my very first tenant may end up being not so great!  In April we closed on a second home and moved into it and kept our home in Erie to rent out.  We found tenants that everything check out on - except this is the second month they are late - except this month - today being the 16th they still have not paid rent.  Our home is not chump change either.  Currently worth $500K+.  Neither is the mortgage.  We do have savings etc we put away for this reason but I di not think the first people we would rent to may potentially drain the bank!  I am sending a letter to pay up tomorrow by the 22nd and if not I will start Eviction.  I also checked with the Town of Erie and they have not paid a single water bill either.  Which I understand the town can put a lien on my house for that - so of course you know who will have to pay that....   Any advice on the front end is totally welcome!