-Issue a notice of demand: Issue a notice demanding for arrears, specifying the particular breach and entailing the tenant to remedy the same. Yee's experience was issue a first reminder, followed by s sterner 2nd reminder, the 3rd latter warns of legal action
-Setup an instalment or deferred payment plan:grant case by case basis. Yee:"It depends on the character of the tenant" [Only] if we feel that the tenant is genuine and can be trusted.
-Go to the tenant's work place:Mary Anne reckons it is effective to demand payment from your tenants at their work place.
-Be very firm with your tenants:It's important to show your tenants that you are determined to weed out bad paymasters.
-Forfeit rental deposit:If deposits paid are not sufficient to cover the full arrears of rent, however, one can consider taking legal action. "The landord can sue for the amount owed by the tenants, based on the tenant's covenants to pay under the tenancy agreement".
-Evict the non paying tenant:There are times when you would need legal assistance to evict a tenant. If your tenant overstays, you can apply to the court for an eviction oder, say Chris.
Ariticle summarized from Personal Money, Aug 2009
Sunday, August 16, 2009
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