Landlord’s Guide to Dealing With Non Paying Renters

by | Jan 25, 2019 | Landlord Rights |

Landlord’s Guide to Dealing With Non Paying Renters
American homeowners move every five to seven years on average, and there are several advantages that come with renting a home. Of course, if you’re a landlord, the last issue you want to deal with is non paying tenants. Landlords and property managers require a consistent influx of cash to maintain their rental properties and grow their business. Lack of income can lead to serious repercussions for tenants. Here are just a few steps landlords can take when figuring out how to get rid of non paying renters.

Check In

First, consider the tenant’s rental history. If they’ve never missed a payment before, consider giving them a bit of leeway to see if they can come up with the money. But if failing to pay rent has become habitual, you may need to take action. Start by checking in on the tenant to make sure that nothing serious has come up that may impede their payment ability. On the other hand, a written reminder can also nudge tenants in the right direction.

Pay or Quit Notice

While state laws do vary, landlords in many areas have the ability to give their tenants a pay or quit notice, which requires them to pay a certain amount by a certain time before further action is taken. Usually, landlords are required to send these notices by mail, but there may be alternative options. Check local laws to see how and when to give your tenants a pay or quit notice.

Sell For Cash

One of the quickest ways to get rid of non paying renters is to sell your property for cash. The typical home is a three-bedroom, 2.5-bathroom house with 1,800 square feet and a price tag of $200,000, and landlords who are simply tired of dealing with ongoing financial and maintenance issues often turn to companies like us to make them a quick and easy offer.

Want to stop foreclosure or learn more about how to evict non paying renters? We buy houses New Jersey tenants are ready to sell, and we’d be happy to answer any of your questions about the process. For more information about how to get rid of non paying renters or the eviction process in New Jersey, contact Freedom Home Buyers.