What to do if your tenant stops paying rent?

November 28, 2018

What to do if your tenant stops paying rent:

Occasionally you may run into the problem of your tenant not paying rent. When you screen carefully and enforce your lease terms and rent collection policies, you won’t run into this problem very often. Sometimes even good tenants can stop paying their rent all of sudden, bad financial things can happen to anyone at any time. If you find yourself trying to collect overdue rent from your tenant, you need to start planning. In this article we will discuss the various ways of how to deal with a tenant who has stopped paying rent.


Establishing strong rent collection policies:

Most leases require that rent is paid on the first of the month, and there’s usually a grace period. Your lease must indicate when rent is to be paid, and when it’s considered late.


Starting an eviction process:

Once you have given your tenant the proper notice you can then begin the eviction process. Serving or posting a notice to your tenants usually results in them paying their rent in full before the end date of the notice. No tenant wants to incur extra costs and may not want the eviction to go any further. If you’re going to pursue an eviction in Ontario for unpaid rent, you need to serve an N4 Notice, which allows a tenant between 14 and 21 more days to pay the rent. That is a lot of time, so you need to start the process soon. The longer you wait, the more rent you’ll be out. At ACCL Property management we will serve this notice at the start of the month, as soon as rent is late.


Working with a legal expert:

If rent doesn’t get paid before the end date of the notice, we strongly recommend seeking legal help.


Proceeding with Eviction

When you don’t hear anything from the tenant, you’ll need to follow through with the eviction. A tenant who isn’t paying rent isn’t following the terms of the rental agreement, so you have the legal right to vacate that lease and remove the tenant from your property. But you have to do it legally with the right documentation.

 

If you are in a situation where your tenant isn’t paying rent and you’re not sure what to do or you’d like to talk with a professional. Contact us at ACCl Property Management.

 

Need a peace of mind?

 

Get the right advice and professional help from the ACCL Property Management team today.


Contact Us:

Durham Region Tel: 1(905) 579-6688

York Region Tel: 1(416) 619-5203

Peel Region Tel: 1(416) 619-9214

Toll free: 1(844) 651-2225

Fax: 1(905) 579-6688

Email: info@acclpropertymanagement.com

 

When you choose ACCL Property Management , you have the peace of mind, knowing that you have a trusted name in property management.

5 Things to Consider Before Purchasing a Rental Property

December 21, 2022
Expert Advise From Your Trusted Property Management Team

Get Your Property Rental Ready for Winter

December 7, 2022
It is important for landlords and property managers to take the required steps to ensure that their rental properties are ready for the winter months. You will want to be proactive with inspecting the plumbing, roof and landscape before the cold winter temperatures and winds set in. Doing this will guarantee that you will save money on damages that may occur if these areas are neglected.

Avoid These Property Management Blunders

May 15, 2021
If you want to earn as much as you can on your investment properties, it’s worthwhile to use the best property management team you can. If you encounter any of the mistakes below in the management of your portfolio, you may want to switch to a different management firm.

9 Maintenance Tips For Your Rental Properties

May 1, 2021
If you own rental properties in Oshawa or Durham Region, it’s crucial to maintain good relations with your tenants. One way to do this is by hiring a quality property management company to handle the upkeep. Are you looking for advice on how to maintain your rental properties in Durham? Look no further. Below are nine critical tips to protect your investment and keep your renters happy.

Tenant Screening: How Landlords Can Effectively Screen Tenants

April 15, 2021
Screening tenants is one of the most important tasks landlords are responsible for. Applications come in by the dozens for every apartment and it’s their job to sort through them, run the appropriate checks, hold interviews, and determine who will live in your properties. As a result of this constant work, most landlords have a clear sense of what red flags they need to look out for when reviewing applications, but it’s important to realize that not all problems are equal and that individuals with “red flags” on their records may not be bad tenants.

How to Build an Emergency Fund

April 1, 2021
1. Organize Your Bank Accounts

What is an Emergency Fund?

March 15, 2021
For the landlords and real estate investors, ROI and cash flow are everything. You’re constantly on the lookout for ways to make your rental properties more profitable, which means maximizing the upside and counteracting the downside so that it doesn’t come back to bite you. And even though there are no bulletproof methods of downside protection, there is one method that can significantly lessen your chances of experiencing a financial catastrophe. It’s called an emergency fund.

5 Tips for Finding a Good Contractor

March 1, 2021
Find a good contractor who gets the quality work on time is never an easy task. As you search for a contractor to work on your property, here are some tips and tactics you can leverage to filter out the bad apples and find the right fit for your project.

7 Techniques For Rent Collection

February 15, 2021
5 Techniques Successful Landlords Use For Rent Collection

4 Ways Landlords Waste Money

February 1, 2021
As a landlord, you’re in the game of generating cash on your cash. In other words, you’re in the ROI business. But are you really doing everything you can to set yourself up for maximum returns? This a question that you need to analyze through a critical lens. You might consider yourself a fairly savvy person when it comes to finances and investing. (After all, you’re wise enough to invest in an income producing property.) But it’s entirely possible that you’re bleeding money in areas where you could be doing better.