Life isn’t always easy, and sometimes we make mistakes. Unfortunately, these mistakes can sometimes show up as tenants paying their rent late. Landlords must treat late payments with an even hand, in a businesslike way, and clarify the situation for tenants, so there is no confusion. Giving notices of past-due rent matters for both landlords and tenants.
Late payments affect landlords and their ability to run smooth operations for their rental units and affect tenants and their credit scores. For both parties, the goodwill relationship that contributes to less stress and joy is also affected.
Keep reading to learn more about giving notice of past due rent and how it affects landlords and tenants.
What Is a Past Due Rent Notice?
A past-due rent notice gives a message to tenants that their rent is late. It is the communication from the landlord to the tenant that payment is overdue.
According to Statista, published Nov. 6, 2020, the main reasons for eviction threats as of 2017 were “non-payment of rent,” according to 77.3% of respondents.
With non-payment of rent being the main reason for eviction, understanding what a past-rent notice is, why it’s essential, and how to write one matters.
Why Is Giving Notice of Past Due Rent Important?
For landlords, tracking late payments, giving past-due rent notices, and mitigating the problem on their properties can mean better tenants, smoother cash flow, and less stress.
Giving a past due rent notice in an easy-to-understand form serves multiple purposes:
- It provides a warning to tenants, letting them know all impending consequences.
- It gives a formal warning to tenants, letting them know that payment is late, and provides a “paper trail” for landlords so they have a record of all communications in case of any disputes.
- The document specifies and reminds the tenant of their obligations to the contract and property.
- It can take away the “personal” aspect of the relationship and keep it businesslike so you, the landlord, can stay objective.
- Finally, the past due rent notice reminds the tenant that they are behind. You can even print your notices on colored paper so it stands out, and tenants don’t miss it.
Providing a Past Due Rent Notice to Tenants can be easy.
Giving past due rent notices, for some, feels rude. But, on the other hand, many of us don’t like asking for money.
When a contract of payment for services or goods is written and signed, getting paid for them is part of the deal. So, for example, if you’re a landlord, your ability to receive rent payments on time and, if not on time, asking for payment and even considering late fees is one part of your job.
There is nothing rude about asking for rent and providing clear and concise communication when rent is past due.
Here is a logical way to think about getting late rent payments:
First, before rushing to write a past due rent notice, be sure to check your records, email, or mailbox for the payment. You may not have seen yesterday’s mail, or maybe you skipped a message in your email, etc. If you determine that, indeed, rent is late and the grace period has expired, then it’s time to give a past due rent notice.
While you can write your past due notice, why take your time and energy reinventing the wheel when it’s already been invented?
As a landlord, you can use PayRent to generate a past due notice to your renter(s) within the app dashboard.
In this blog, you’ll find a free printable past due rent notice form for landlords. Also, with just a few clicks, landlords can generate a past due notice to their renters within the PayRent dashboard. The form includes—
- The date of notification,
- The rental address,
- The tenant(s) name(s),
- Wording that consists of the amount of rent overdue,
- The date the rent must be received or incurring a late fee with methods of payment.
A Final Thought
Being a landlord is not easy. The responsibilities and time spent making a good home for people are many. Anything a landlord can do to reduce their time spent to be more efficient and effective is innovative. Using PayRent.com for all your rental needs, including a Notice of Past Due Rent, is what we do and who we are.
Check us out! We look forward to being of service!