Parking lots/ dead beat tenant
So I have a restaurant next door to my bussiness that I rented the parking lot to for nights and weekends. But the tenant has gotten lazy with paying his rent every month on time. In the beginning I messed up, I would shoot him a text reminding him and then he would pay around the 5th. But now it's gotten bad, it's the 9th and he's kinda irratating me. I've texted him and he say he will come do it in a couple of days. I had a lease that expired 2 months ago. What recourse do I have?
What does the rental agreement say? Are you on month-to-month? You could ask him if he wants to renew his lease. If he doesn't, you could let him know that a tow company will be putting up signs (hopefully saying property of James and hours of enforcement) on the spots. Tow all their customers away. That would motivate me if I were him.
The tow company should do this for free (for you). Verify the frequency of the tow company's drive-bys.
I agree with Matt. Most leases, after expiration of the initial time period specified in the lease, have wording where they automatically go month to month. If so hopefully the lease has a provision allowing for late fees to be collected. If not then its time to get a new lease with such provisions listed in it.
If the lease is month to month and it's a commercial lease there is often a lease holdover provision that allows for a hold over rent that is x% over the base rent. In AIR leases, the most common form leases used nationwide, that provision is at 150% of base rent.
If your lease does have a holder over penalty provision you could use that as leverage to enforce prompt payment of the "base" rent.
Otherwise I agree with the mention by another that if he's not willing to renew the lease and pay his rent on time then you'll have not choice but to employ the service of a towing service to monitor your parking lot.
FYI, most commercial leases, unlike residential leases, have a grace period of ten days.
Well, that point is correct.