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Updated almost 3 years ago, 12/15/2021

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13
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14
Votes
Ryan Daniel Palmer
14
Votes |
13
Posts

Tenant consistently late on late on rent, no sec deposit

Posted

I own a three-unit in Chicago which has strict regulations about accepting security deposits therefore I've recently started doing non-refundable move-in fees as most landlords do here. I have a tenant that was great at the beginning but has been late the last few months on rent and still hasn't paid this month which has made him two weeks late. Lately, there have been other issues, such as smoking cigarettes in his unit and playing loud music late at night as well. I guess my question is twofold, 1. If he continues to be late on rent and I don't have a security deposit to withhold, how else can I incentivize him to pay on time besides adding the 5% late fee in his lease? 2. If I choose to not renew and there are damages or he doesn't pay his last few months (he has about 3 months left) what are the simplest actions to take to collect the rent owed or money for damages?

I'd prefer not to take things to court/sue. I'm hoping he's able to pay and I'm a pretty laid-back landlord overall but just want to have my ducks in a row here.

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