Landlords are always concerned about what happens if a tenant doesn’t pay rent, and it’s understandable to ask these questions. Today, we’re telling you what we do as a Chicagoland property management company when one of our tenants is late with rent payment.
Check Your Lease
The first thing you need to do is check your lease and find out the particulars. In the majority of the leases we see, tenants know that their rent is due on the first of the month, and then there is a grace period until the fifth of the month. So, if the sixth rolls around and you still don’t have rent from your tenant, we recommend that you go out and deliver a Five Day Notice.
Five Day Notice
The Five Day Notice is delivered to the tenant, and then the tenant has five calendar days to bring their account current including any late fees. If they do that, great. The problem is solved, there is nothing more to do, and everything goes back to status quo. If they do not pay, our recommendation is to immediately start the eviction process. Contact an attorney who is experienced in landlord and tenant law, and get that process started. If you’re not comfortable delivering a Five Day Notice, hire a professional process server. These things can sometimes become confrontational, so it’s often a good idea. That process server will also know how to properly serve the notice. He or she will follow the tenant to and from work, wait for them to come back from the grocery store, and pick an opportune time to deliver the notice. Understand that the legal proceedings cannot go any further until the notice is received by the tenant.
If you have any questions about this process or you need help with a rental property in Chicagoland, please contact us at Baird & Warner Property Management.