Back rent : ezLandlordForms

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Ian H

started a topic over 12 years ago

I have a good tenant (they take excellent care of the place) but they have been short paying their rent due to a hardship, which I agreed to at first, but it has been a year now and they owe several thousand dollars. I did allow them to renew but added to the lease that i would not renew next year and that the back rent would be due and payable by then. What other documents should I have them sign (i.e. a Promissory note) and/or language should I add to the lease?

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Bob R

said over 12 years ago

Depending on the wording of the new lease, it looks like you just locked yourself into waiting until the lease expires before you can do anything other than correcting a lease violation Notice. The 10K dollar question might be…..how much more will they owe since you gave them a blank check on when late rent will be due (back rent would be due and payable…..). You just may have forfeited your right to a Pay or Quit Notice. You may want to take them out to lunch, discuss their situation and see what you can do to have them move asap. If you need more info, give out a shout---- Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” However, it is up to you to become familiar with your State/Local laws. I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance.

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Dawn A

said over 12 years ago

I prefer not to be a bank to my tenants. If they have taken a year and owe you several thousand dollars, it is more than likely you will never see a penny of that money. They sure found a sucker.

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Bob R

said over 12 years ago

@Dawn.....up until your last sentence, your comments were fine. There was no reason to call Ian a "sucker." He's probably new to the game and more than likely had a cash flow panic. He has to be given credit for searching out this Forum for help. We all learn by our mistakes…..some more costly than others.