New landlords or unhappy landlords often ask me what they should do when their tenants stop paying rent. It’s important to document and follow the correct rent collection procedures when you have a tenant who isn’t paying on time.
If the tenant is required to pay on the first of the month and the money doesn’t arrive, contact your tenant by phone on the following day to ask if something is wrong, if there’s a reason for the delay, and if it’s something that can be worked out. Find out everything that you can about the situation right away. If you’re working with a Dublin property manager, he or she can take care of this for you.
If that rental payment doesn’t come through or the tenant can’t pay, take action fast. Under the RTB rules, you must give them 14 days to remedy the situation and pay the rent. They can also use those 14 days to work out a payment plan with you or move on from the property if they cannot pay rent. You’ll need to issue a 14 Day Notice. Send it by Recorded post so you have a tracking number on the delivery of the letter. The tenant doesn’t have to sign for it, but you can prove that it was delivered.
After the 14 days, if a payment hasn’t been received and nothing has been worked out, you will issue a 28 Day Termination Notice for nonpayment of rent. It’s the same process as when you issued the previous notice. Send the termination notice in line with the RTB, and include the amount of rent that’s outstanding on your Dublin rental property. You’ll also want to list the reason that the tenancy is being terminated, and note that you’re allowing them 24 hours after the final day to vacate the property. You must word everything exactly the correct way. Follow the RTB, otherwise you’ll go through the process but the tenant will challenge you, and you’ll have to start the whole process over again if the letters as deemed in valid because you may not have given 14 full days or noted how much rent was in arrears or when you issue 28 days notice (after the 14 days has expired) you failed to note that they have the full 24hours to vacate, its simple errors like this that the RTB will strike out your claim. That can become expensive.
If your tenant is not paying rent, it’s very important to have the right procedures in place. Contact the tenant first in case there is a problem you can work out without going through the process.
If you have any questions about collecting rent or Dublin property management, please don’t hesitate to contact us at The Property Company.ie.