More than 5.7 million households across the United States are behind on their rent payments. While you can include late payment fees in your rental agreements, there are many instances where your tenants still fail to pay their rent on time. It can be challenging to deal with past-due payments.
There are a few things you can do as a landlord in Florida if your tenant can't pay rent on time. Whether you're dealing with a one-time offender or a renter that habitually is late on their payments, it can cost you a lot of money and time to remedy the situation. It's important to know what steps to take in case you encounter this issue.
This guide will discuss what to do if your tenant is late on their rent payments in Kissimmee, FL. An experienced property management company will help you navigate these tenant problems.
When Is Rent Considered Late?
Most landlords require rent to be paid by the first of each month. There are times when it's not considered a late payment if the money isn't received by the beginning of the month. This can include:
- If the first lands on a holiday or weekend
- If the tenant is paying their rent via ACH transfer
- If the renter mailed their rent check and it's postmarked by the first
Some tenant laws in certain states require landlords to offer a "grace period" before considering their rent late. Florida requires landlords to give their tenants three days to move out or pay their rent.
The landlord can then move forward with whatever action they want to take after those three days. This can include charging late fees or evicting the tenant.
When to Start the Eviction Process
Landlords can give their tenants a three-day notice if they don't pay their rent on time. Renters will have three days from the date they receive their notice to leave the property or pay their rent. Legal holidays and weekends aren't included in this timeframe.
Make sure you include the following information in the notice:
- When the tenant receives the notice
- An ultimatum that states you can pursue legal action
- How the tenant received the notice
If the tenant pays their rent before the three days are up then the landlord can't evict them. Unfortunately, if they're late again, you'll have to start this process over.
You can withhold their rent from their security deposit if they move out but don't make their rent payment. This includes withholding late fees. You may proceed with the eviction process if they don't move out or pay their rent.
Get Help if Your Tenant Can't Pay Rent
It can be challenging to know what to do if your renter can't pay rent on time. You want to be compassionate toward them, but at the same time, you're running a business. Being transparent with what will happen if a tenant is late on rent during the lease signing period will ensure your renters know what'll happen if they're late on rent.
Allegiant Management Group is here to help with rent collection. We'll ensure your tenants keep paying rent on time with our user-friendly payment options. Contact us to learn more about our property management services in Kissimmee, FL.