How to handle a tenant who is not paying rent?

[Aaron Harren]

How can and do you handle a tenant who isn’t paying rent and is avoiding all calls and text? Thanks

[Nathan Gesner]

@Aaron Harren you should have a set policy and process. For me:

Rent is due on the 1st.

Late fee charged on 5th (even if it's a weekend or holiday)

Eviction process starts on the 10th.

I do not call tenants to remind them rent is late or that I'm starting the eviction. I don't waive late fees. I don't negotiate or change my policies. I am clear up front, they have it in writing, and they can abide by it or suffer the consequences.

Calling them with reminders, pleading for them to pay so they can avoid eviction, or any attempt to negotiate with them is a sign of weakness and they'll usually try to take advantage of that. Professional lenders have strict policies, they stick to them, and everyone understands them. Do the same for your business and you'll have a much happier, more successful life.