On our blog today, we are talking about what you should do if your tenant stops paying rent. The first thing you want to do is jump on it quickly. The longer you wait and listen to excuses and promises, the more it will cost you. Your timeline can double and triple and you’ll lose a significant amount of money. We recommend you communicate with your tenant right away, as soon as rent is late. Make the first phone call and then send a letter. It’s important to put in writing what you are looking for and what you are willing to let the tenant do. Document everything for legal purposes. This is a very important thing to do when dealing with issues related to Olympia property management in general.
If you don’t hear from the tenant after reaching out and sending your letter, you want to file a 3 Day Notice to Pay or Vacate. If three days pass with no communication, go to an attorney. There are a number of good local attorneys who we work with and they are able to move the process forward quickly and professionally.
Your attorneys will draft a legal letter that explains your intent to file an eviction and then the process moves through the courts. From beginning to end, it takes three to four weeks for an eviction and the costs can vary, depending on the tenants and how quickly they are willing to leave. A full eviction process is usually going to cost between $500 and $800.
If you’re having problems with a tenant stops paying rent or refuses to pay and you’re not sure what to do, please contact us at T.J. Guyer and we would be happy to help you.