When Tenants Don’t Pay
It seemed like just a couple of weeks ago you tenant was having problems paying, but they promised they would make it up, or you thought it was a momentary hurdle so you let it slide while they got back on their feet. It can’t hurt to give them a chance?
It seems to be a very slow and methodical process. First, it’s one month behind and then maybe they give you a partial payment to appease you, yet never completely catch up. Then next month again, perhaps another partial payment, but never totally catching up the arrears leaving you stuck covering the payments. Each time you are hoping they can catch up and each month they fall further behind you feel you have to let them catch up or you will be out $2,000, $3,000 or even more in lost rent.
So you wait, and suddenly its several months later, they owe you five thousand dollars or more in back rent and you don’t know what to do. You tried to do the right thing, you thought the tenant would recover, and now you are stuck in what I call, the eviction spiral.
If it’s happened to you, you are not alone. It’s happened to me, I’ve heard it from dozens of other landlords and I am sure I will continue to hear it from dozens more. The important part now is you need to take action. Continue reading

