alternatives to evicting a slow paying tenant

[Ward Hubbell]

I rented a unit to a young man last month and we have had to chase him down for his rent every month since. This has happened twice in a row and I suspect it will continue. He says his roommate won't pay. He's offered to pay his share but I've got a feeling he and his roommate just can't afford the unit.  I'd like to find the most cost efficient  way to get him out so i can rent it to a qualified tenant. Is that a formal eviction or is there another way?

[Nathan Gesner]

Quote from @Ward Hubbell:

I rented a unit to a young man last month and we have had to chase him down for his rent every month since. This has happened twice in a row and I suspect it will continue. He says his roommate won't pay. He's offered to pay his share but I've got a feeling he and his roommate just can't afford the unit.  I'd like to find the most cost efficient  way to get him out so i can rent it to a qualified tenant. Is that a formal eviction or is there another way?

Your lease agreement should have a "joint and several liability" clause that essentially says every Tenant is 100% responsible for the terms. If half the rent is unpaid, both Tenants are responsible.

Some Landlords love to walk the edge and collect late fees. I disagree. Late payments can eventually turn into no payments, and they are a red flag that other things may go wrong. I would simply tell your tenants it's clearly not affordable and ask them to vacate by the end of the month. Offer to give them a full refund if they meet your deadline and the place is generally clean. It will cost you $100 - $200 to turn it around, but then you can place good renters that pay on time and don't cause you problems.