QUOTE(juicyliana @ May 20 2016, 11:35 AM)
My tenancy agreement to my tenant stated that the tenant has to pay before every 7th of the month and I'm holding 2 months rental deposit.
1) What is the market practice on the tenant's deadline to pay up?
2) By which date should i ask the tenant to move out if he still haven't pay the rent?
3) Do you all generally allow the tenant to offset the rental?
4) If the tenancy agreement has expired, can i just raise the rent to get the tenant move out?
Although it's widely regarded as a common practice or to some as market practice, people can always contract out of existing arrangements so long as both parties agree to it. Once the contract is signed, it's binding between both landlord and tenant.1) What is the market practice on the tenant's deadline to pay up?
2) By which date should i ask the tenant to move out if he still haven't pay the rent?
3) Do you all generally allow the tenant to offset the rental?
4) If the tenancy agreement has expired, can i just raise the rent to get the tenant move out?
1) What is the market practice on the tenant's deadline to pay up?
7th calendar day of the subsequent month.
2) By which date should i ask the tenant to move out if he still haven't pay the rent?
Even when the first payment is missed, you can ask the tenant to move out.
There are however an "indulgence / waiver clause" or an "Event of Default Clause - remedy a default within 30 days failing which immediate termination of tenancy agreement etc..." that you may exercise.
It's a commercial call as to how you choose to exercise these remedies.
3) Do you all generally allow the tenant to offset the rental?
No. As a side note, most tenancy agreement do expressly prohibit offsetting of rental. IF you do so, you will weaken your recovery ability later on should the tenant default on rental.
4) If the tenancy agreement has expired, can i just raise the rent to get the tenant move out?
That depends on the construction of your agreement. Some agreements have a "failure to yield up provision", this essentially allows the landlord to double up the rent until the tenant moves out.
This post has been edited by aurora97: Aug 9 2016, 11:03 PM
Aug 9 2016, 11:03 PM

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