If you’ve been renting for any length of time, you’ve certainly had your share of late payments or bounced checks. There comes the endless excuses, whether valid or not, you have bills to pay as well. You hear about being laid off (as unfortunate as that is), spouse gambling issues or even the dog ate the rent. There have been stories of rent being paid on time but checks bouncing and then the late fees start adding up. That check bounces as well. You are at your wit’s end with this tenant. What do you do?
Aside from tearing out your hair and pounding on the tenants door at 3 am, all you can do is submit a Three Day Notice on their door in hopes it lights a fire under their feet to get you the money. But you wonder if that check will bounce as well. So, you are sorely tempted to put on the notice ‘monies may be made up with either cash or money order only’. You feel vindicated and satisfied. Is it legal? Only if it was a provision in the original lease. Better yet, see your attorney for proper wording.
Another issue that comes up from time to time with clients is how to use security deposits when a lease is moving from the premises. Everyone knows that the security deposit can be used for damages (replacing carpet, painting, drywall, etc). But did you realize that the security deposit can be used to collect unpaid rent the leasee owes? Come ask our office for more details!