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Updated almost 7 years ago, 03/03/2018

User Stats

29
Posts
10
Votes
Geoffrey Serdar
  • Real Estate Agent
  • Minneapolis, MN
10
Votes |
29
Posts

Lease clause that adds interest to defaulted payments

Geoffrey Serdar
  • Real Estate Agent
  • Minneapolis, MN
Posted

Hello,

Although I haven’t dealt with it personally, a friend of mine has.  If a tenant doesn’t pay rent, and the process for eviction is filed.  What recourse can landlord go for missing rent payments?

Do you have verbiage that all missed payments gets handed to a collection agency, or that it screws interest?

How do you report to the credit bureaus to ding credit score?

What is your lease verbiage to charge interest and report?

Thanks in advance.

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