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What to do when tenants stop paying?

by Soft2share.com

Providing your place for rent can be a big deal. Why? Because you are handing over your place to a completely unknown person. You have to provide him with all the necessary things that are required. And above all of that he is paying you. So he has to give him what he wants based of certain grounds. Now often unwanted situation may arise like your tenant has stopped paying you. Now what would you do in this kind of situations? The safest thing to do even before these situations would arise is to enquire about his job prospect and have his identity proofs so that you can avoid these issues.

How to deal tenants who stop paying

How to deal tenants who stop paying

Have a conversation with your tenant

This is a situation no landlord would like to experience. So you should handle this issue with utmost care so that you don’t mess it up. The best way to solve it is to talk to your tenant calmly and know what the problem is. Remember that, conversations can solve plenty of problems. This can be a temporary issue. There are possibilities that your tenant is having a temporary financial crisis. In that case you should consider and wait till he can recover himself from the crisis.

Reducing the stipulated rent

If you share a very cordial and a warm relation with your tenant then you may consider reducing the amount of the house for rent in Chennai for the time being. This can be a simple gesture that would give the tenant ample of time to solve his financial problems if he is facing any.

Get it straight

Make sure he is providing you with logical reasoning for not paying his rent. If problems like he has lost his job or his or her partner has left then there are governmental procedures where the authorities would provide the partner with allowances. So you should get ample of information if you are facing such kind of a problem. Or else the best thing would be to end the contract if you have any and let your tenant leave if he or she is totally unable to pay. No point in putting yourself in loss.

If the tenant of your rental accomodation is unresponsive then you better talk it out or ask him to leave. Otherwise if still these do not work then I guess you seriously need to consult a police. Sounds weird and problematic but except for this I do not think you would have any other option.

If you seriously want to avoid these unwanted problems then have a direct and straight forward conversation with your tenant making every single thing clear. Also mention him the rules and the regulations to avoid these unwanted situations. Make sure you have his identity proofs including his passport and PAN card. These measures will be of great help if you have any such problem.

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