Welcome back to Property Management Advice with Rex Rentals & Realty. Previously, we gave you an outline on the four major notices that you are going to be utilizing throughout your tenancy. Today we will take a more detailed look at the Three Day Notice.
Now, before we dive into the nitty-gritty of this crucial notice, let me reiterate that I am not an attorney, and this is not legal advice. I'm here to provide you with valuable information to navigate the intricacies of property management. You should always consult with legal experts for specific guidance.
What is the Three Day Notice?
The Three Day Notice, or its equivalent in your state, is an essential tool when your "perfect" tenant decides not to pay the rent. Yes, it does happen, despite your best screening efforts. And in such situations, the Three-Day Notice becomes your best friend in the property management world to make sure you get paid.
In the state of Florida, the Three-Day Notice is the key to addressing non-payment of rent. Other states may have their own versions, but the principles generally remain the same. Let's break down the important components of the Three-Day Notice:
- Property Location: The notice should specify the address of the property in question. This ensures that there is no confusion about the property associated with the notice.
- Amount Due: The amount due is critical and depends on how your lease is written. If your lease isn't drafted properly, you may not be able to collect late fees or additional rent in the notice. In Florida, you can only demand the total amount of rent owed in the Three-Day Notice.
- Proper Timing: The timing of your notice is of the essence. You need to count the days correctly. If you deliver the notice on the third day, you should have the fourth, the fifth, and the sixth as the notice period, with the sixth being the third day of the notice. The seventh day is when you can legally take action. This means you should aim to ensure your tenant is aware of your presence. Knock on the door; don't just tap. If the tenant doesn't respond, you can tape the notice to the door, preferably with some sturdy duct tape so the notice does not blow away.
- Avoid Legal Holidays and Weekends: You cannot deliver a legal notice for non-payment of rent on a Saturday, Sunday, or a legal holiday. This means that if your third day lands on a weekend or a holiday, you'll have to adjust the timeline accordingly.
Remember, serving a legal notice is the right way to address rent issues. Simply asking your tenant to pay can often give them more time to evade their obligations. The legal notice is a formal and necessary step to protect your rights as a landlord.
To recap, the Three-Day Notice, or its equivalent in your state, is indeed a landlord's best friend. It is a powerful tool to address non-payment of rent professionally and within the bounds of the law. While I hope you never have to use it, knowing how to do so correctly is a vital skill for any landlord.
Stay tuned for more property management tips and insights from Rex Rentals & Realty. As always, feel free to reach out with any questions. I’m Kym Ottaviani here to take the pain out of your daily investment along with the stress and put more profit in your pocket.