Tenant behind on lease payments What to do?

[Davo36]

I would calculate and charge interest on a monthly basis. So show rent due, interest charged, summed to a total, so he can see how much it's costing him.

Add interest on the interest each month of course.

This is a crappy tenant. I hate people who don't return calls etc. Height of rudeness. Why don't you tell them they need to catch up or you'll kick them out? Will the property lease again fairly quickly?

You don't want to have to put up with this for another 4 years.

David

[King13]

Hello Juba

Steps to follow:

1) Write / fax a letter, rather than phone or e-mail. Include an invoice for rent due + interest with a pay by date.

2) Ask solicitor to send a legal notice to tenant.

Cheers

[juba]

Hi,

I own a half share in a commercial building, leased to a services company which appears to be run ok, but tenant has been slow during first year to pay rent despite it being at a reduced rate, coming into second year he will be 3 months behind next week, despite trying to make contact through all forms he is never available or there (on site?).

The lease is auck law society, unfortunately the penalty clause is only 12 percent which is hardly a deterent, as he could well be paying more than that for stock.

my question is the penalty interest accreued how often ie pa?

has anyone got any advice on best steps to deal with this tenant to get money?

I am optomistic (rightly or wrongly) about the tenants business long term and they have 4 years to go on tenancy.

I have tried communicating with him via email and phone and visiting premises and never get to talk.

Thanks in advance