Owning a rental property is one of the most common businesses in the country. With proper management, you can earn more than twice compared to what you can earn in the corporate world. Managing a property, however, has its own share of sticky situations like when your tenant doesn’t pay their rent on a regular basis.
The Tenant and the Landlord’s Responsibilities
As stated in your contract, the tenant should pay the rent regularly. The arrangements for the payment can be discussed. For example, the tenant may pay twice a month or once a month but in full. As a landlord, it is your utmost duty to let your tenant know about this setup, and the possible consequences should they not be able to pay on time.
It’s not advisable to get into a heated exchange with your tenant, though. It would help to have some legal knowledge and remedies, and you may get this from your property lawyer in Wellington.
What if the Tenant is Stubborn?
If your tenant continues to be stubborn, then you can send them a breach of notice. Give them a few days to pay and then send them this notice afterwards. This will serve as a warning. This doesn’t mean you have to be too tough to your tenants. Some of them could be experiencing a financial distress, and the best thing you could do is to understand and give them a grace period for their payment.
The worst scenario that a property lawyer could show is when the tenant tries to evade their financial obligations. In that case, consider terminating the tenancy. You cannot boot out the tenant without a court order.
To be safe, always keep your lease documents and update your payment records. These can be a source of evidence if you bring this matter to court. It is also important to make sure your tenant knows that their payment is late since they might feign ignorance of the notice. Getting legal help should be the last resort.