Strategies for delinquent tenants???

[Andrew West]

Hi BP Community!

I own a triplex in a C-class area, and with the territory comes the inevitable late rent payment (or non-payment altogether).....Don't worry, I budgeted for this!

I'm wondering what the opinions are out there for communication strategies in these instances. Have you found any particular approach to work well? As an owner should I reach out to the tenants in any way? Do you just leave this fully up to your PM?

My PM has a standard/automated notice that goes out in the 2-day and 7-day windows, but this doesn't seem to be very effective. I struggle with just sitting by and waiting (especially knowing the fees rack up for my tenants the longer they go without paying!).

Let me know your experience!