Longtime tenant having financial difficulties
My long term tenant (almost 3 years) has informed me that he’s having some financial issues. Last month the rent was paid in full, but split into 2 payments...this month he shorted me $250. I’m assuming/hoping he will pay the balance before the end of the month.
I’ve never had to charge him a late fee in the past, but I don’t want to allow this to continue. Any recommendations on how to handle this situation?
Most Popular Reply
I'd start shopping for new tenant..
you could waive late fee but he needs to make a weekly payment on rent until it's current.
I'd issue pay or quit,, he may be eligible for emergency assistance and with a pay or quit he would use that to verify that he needs financial assistance for housing rent .
Stick with your state landlord tenant laws on this and suggest he ask family for help if needed. that you understand he may have to relocate and it would be better for you to let him out of his lease than have him not pay and you have to pay more money to file eviction..