Rent Arrears – When Is It Time To Act?
If the rent is due on the first and it isn’t paid, you need to issue a termination notice the next day. It is your mortgage payment that isn’t being paid! A notice is sometimes enough to let your tenant know that you mean business and the rent is due on the first, not when he gets around to it. A tenant will soon realize that shelter over him and his family comes before anything else. A non-payment notice by law gives a tenant 14 days to pay before the landlord can apply to the Landlord and Tenant Board for a hearing date. By the time a landlord gets to the hearing, then waits the mandatory eleven days for the Order to be enforceable, more time and money is lost. It takes up to three months, sometimes more, to actually have the Sheriff come to evict your tenant. Time is money and inaction will only lose more of your money. We can prepare your N4 Notice of Termination and either give it to you to serve or have it served on your tenant, usually the same day you call us!
Don’t let yourself get caught and delayed in obtaining the eviction of tenants who can’t pay.
Tenants whose income is derived from welfare or disability cannot have these funds seized to satisfy a debt – including the money they owe their landlords. The longer you wait, the greater amount you will lose. It is far better to take control and get a tenant who can pay you. When it comes to tenant recruitment, let us give you some pointers. Persistent Late Payment By Tenants – How To Stop This? A tenant who is not in the middle of a lease may be given a 60 day N8 notice of termination for persistent late payment. This is an excellent notice to combine with an N4 to remind a tenant that ongoing late payment of their rent is not acceptable. When we have to take the tenant to the Board we combine this N8 Notice with the N4 Notice. At the very least a Member (Judge at the Board) will exercise their discretion to allow the tenant to pay up, but order that the tenant be on probation and must pay rent on time for up to one year. What a great way for us to save you further legal costs!