Property Management Companies – A Real Estate Investor’s Best Friend

Rent was not paid by your business renter. You’ve heard that things aren’t going well for them, and now you can see why. As a property manager, it is your responsibility to remedy the problem as promptly as feasible. The renter has essentially violated the lease when they fail to pay by the due date, and you have the right to remove them from the property. An eviction lawsuit, also known as an Unlawful Detainer case, is a very simple legal procedure. The most essential thing for property managers to understand is that each stage in the process is crucial and must be followed to the letter of the law. It is typical to have a real estate attorney represent both parties in a real estate transaction. The illegal detainer case should proceed pretty quickly if your property manager follows the law, gave sufficient notice, and has a complete file of all contact between the renter and their firm.Do you want to learn more? Visit Property Management Companies

If at all possible, the first step is to resolve the rent payment issue.

If at all feasible, the property manager should make every attempt to convince the tenant to pay their rent and stay current on their lease. If it means waiting a few longer days for payment, this could be the best option rather than bringing a lawsuit. This step will be dictated by your company’s rules and best practises, although it would be preferable for all parties to settle before going to court.

A three-day notice has been drafted.

A ‘three-day notice to pay or depart’ must be drafted and appropriately delivered on the renter if payment is not forthcoming. This notification must be written in a certain legal manner. A business owner, landlord, or property manager may select between two kinds of 3-day notices: 1) one that indicates the exact amount of rent owing, and 2) one that estimates the amount of rent due, which is frequently the case when a tenant pays a percentage rent.

If the contract stipulates that the tenant must pay rent as well as extra costs such as triple net or CAM, the property management should get legal guidance on whether two separate and different notifications must be delivered. For example, if the landlord or property management accepts an overpayment of rent because they miscalculated and the renter payed anticipated rentals and CAM costs, the tenant may win the illegal detainer lawsuit. This might provide the renter the right to attorney’s costs as well. This step must be completed correctly.

The Three-Day Notice Must Be Served Correctly and Legally

When the renter is physically served with the three-day notice, or when a responsible person at the place of business is physically served on the premises, the tenant is declared served. If no one is accessible, the landlord or property manager may affix the notice to the business’s front entrance door while also mailing a copy of the three-day notice by certified mail with return receipt requested. The landlord or property management must subsequently provide a ‘proof of service’ in the right manner, stating, among other things, that the ‘three-day notice’ was served on the tenant or describing the manner of service.