Advice on non-paying month to month tenant

[Carlos Garcia]

Hello everyone! I have a property rented in Miami, Fl and have a month to month tenant (no lease agreement) who is currently 6 days past due on rent and struggling every month to make to payments. This is a 2/2 apartment in a great area and rent is currently 900 a month. Rent has not been raised for about 3 years and I know we can easily get 1300 from this apartment. So now my question is what should I do in this case and what is the right way to do it. As of right now my plan is to sit down with the tenant and discuss the options he has which I see as the following: Option 1: Give him the “Pay or quit form” 3 days notice then proceed to eviction Option 2: pay for month due and move out at end of paid month Option 3: Pay for month due and continue paying at new rent of 1300 Option 4: Cash for keys? How much should I offer if at all Any other options, feedback or opinions would be greatly appreciated! P.S. this is my parents property which they inherited and became accidental landlords with, I know it’s been poorly managed and I’m taking over it and getting it all straightened out.

[JD Martin]

Your only reasonable approach is the "pay or quit" approach, and give them whatever state notice is required to terminate a month to month arrangement (30 days usually). If they can't come up with $900 they certainly can't come up with $1300. Since it is a habitual problem you might as well get it addressed now, as these things tend to get worse, not better. Why accept below-market rates from someone who can't even pay on time?