Every year, more than 2.7 million tenants across the United States face eviction. That's often because they fail to pay the rent.
But what happens when a tenant can't pay rent? As a landlord, you could find yourself out of pocket, while your major asset goes unused. Many people don't know what to do when someone simply doesn't want to pay.
Luckily, there are solutions, allowing you to free up your rental properties. Keep reading to find out what to do when a tenant digs their heels in and refuses to pay.
Talk About It When a Tenant Can't Pay Rent
The first step in any dispute should be opening a channel of communication. Talk with your tenant and see what you can do to resolve the issue. They might just have a good reason why they've stopped paying rent, and a simple negotiation can help to get to the bottom of things.
Explain to your tenant that things will escalate if they refuse to pay. If possible, offer them a compromise. Can you arrange a payment plan to allow them to get back on track?
Try referring your tenant to financial assistance groups in the area. Cleveland is home to many fantastic non-profits and charities that can help those in difficult financial situations, like debt or gambling problems. Some of these organizations may help your tenant to pay rent, meaning more money in your pocket.
Begin Eviction Proceedings
Even with the best will in the world, sometimes communication breaks down. If a tenant decides they will not pay rent under any circumstances, you might find that you need to take things to the next level.
In the state of Ohio, landlords can begin tenant eviction proceedings when tenants breach the rental contract. You will need to serve a 30-day eviction notice in order to legally evict them.
If the tenant fails to leave the property after this time, they will be considered illegal squatters. Contact the local sheriff's office, which will advise you on the next course of action.
The eviction process is often a stressful time for landlords. Of course, when you work with a property management company like us, you can sit back and relax, safe in the knowledge that we're taking care of business. We will keep you posted on the current goings-on while we negotiate with the tenant and then begin eviction proceedings if necessary.
Quality Property Management
Being a landlord can come with big financial rewards. But the day-to-day business of property management can be a real headache, especially when a tenant can't pay rent. It can even distract you from your other business interests.
Whether you're dealing with tenant problems or just need a little extra help with maintenance, rent collections, and admin, we can help.
As the premier property management company in Cleveland, OH, we have the skills and experience needed to help you. Contact Remax Haven Realty today to find out more about our varied range of services.