Renting out commercial and residential spaces can be a very lucrative business until a tenant fails to pay. At some point, you are bound to encounter these kinds of tenants or clients, according to MS Webb & Co. So what do you do if a tenant fails to pay you consistently? Before you try to contact commercial bailiffs, here are three things you can do.
Call the Tenant First
While you can always assume that your tenant would pay on time, it is your duty as the landlord (or your property manager’s) to practice due diligence. After getting the lease documents and past payments, you can give the tenant a quick phone call to remind them of the late payment and make arrangements if necessary. A quick phone call can help you avoid unnecessary confrontations. After all, it could as easily be a case of forgotten payment and not an intended one.
Issue a Written Notice
If you’ve already issued a late rent notice and still get no reply, you can start the eviction process. In a written “pay or quit” notice, you have to specifically write your intent to evict the tenant along with the exact amount of money owed to you that needs to be paid. In the written notice, you also need to specify when the payment should be made and how. There are cases when landlords and tenants can strike up a deal to settle the late payments in batches.
You Can Hire Commercial Rent Recovery Services
You can hire certified and commercial bailiffs to help you with the Commercial Rent Recovery. The bailiff will be allowed by the court to enter the premises of the debtor and collect goods whose proceeds would cover the debt in question. Hiring bailiffs is an effective method commonly used by landlords to help recover money owed, especially if the debtor has some office machinery and other equipment that can be sold.
Being a Responsible Landlord
Dealing with difficult tenants is all part of a landlord’s job. However, you need to understand your rights and the things you can do as a landlord to get the money owed to you. Keep these in mind if you’re dealing with consistently late payments.