Landlords, collecting rent is the most important thing you will do each month. It will sometimes be the hardest but, your financial survival depends on it. It calls for business smarts and people skills. If the rent is late, you will need to talk to your tenant or give them a reminder letter indicating the due date. You will also need to inform them that any agreed upon late penalties or fees must be paid.
Some landlords may want to give tenants a grace period but most experts agree that it makes better business sense to impose a late payment penalty a day or two later or charge their tenants an additional small fee for each day rent is late. Whatever you decide, everything must be in writing in the lease or rental agreement.
At bradfordmillerlaw.com you will find helpful landlord information along with information about our firm. Our experienced attorneys have earned membership in the Better Business Bureau and we have great reviews on Yelp.
Bradford Miller Law, P.C. has been helping landlords for several years. We approach every client with a focus on integrity, advocacy, and understanding and can provide experienced legal guidance to assure that your assets are protected.
To discuss your pending or potential real estate transaction, your ongoing legal needs as a property owner or landlord, building code violation defense or your estate planning concerns, call us at 312-238-9298 for a FREE 15-minute consultation.
Posted by Bradford Miller Law, P.C.
134 N. LaSalle Street, Suite 1040
Chicago, Il 60602
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