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.
