Owning investment property is a great way to earn passive income. However, the properties do not come without risk. When tenants are not on time with their payments, you may wonder can you evict a tenant for late payment?
Properly keeping records of all communication from the lease agreement to any late rent notices is crucial. In case the tenant does not pay the rent and you resort to eviction, proper documentation can ensure you have the legal authority to do so.
The experts at https://www.rentrescue.com/ recommend charging late fees on past due rent. State laws may dictate how much the late fee is. Many landlords offer a grace period of as many as five days after the due date for tenants to pay rent. Some states also have laws on grace periods but not all.
To sidestep the eviction process, some landlords may entertain the idea of accepting a partial rent payment. Be careful when accepting partial rent payments because some states may see this as a new rental agreement. Partial payments may also set a bad precedent for future rental payments.
Can you evict a tenant for late payment? Yes, but be sure you understand the process. Rent is never guaranteed, but many states require the completion of a legal process prior to eviction.