If my tenant’s last 2 rent checks have never cleared due to insufficient funds and he informed me he is moving out a month early, what should I do?
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If my tenant’s last 2 rent checks have never cleared due to insufficient funds and he informed me he is moving out a month early, what should I do?
Asked on January 7, 2012 under Real Estate Law, Colorado
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If your tenant's last two rent checks failed to clear and you were just advised that he is moving out a month early, you need to sit down with him and see what he intends to do to make good on the last two checks and the month that he is moving out early on.
I suggest that you have him sign a promissory note to you for the amount of the two months that he still owes you on containing an an attorney's fees clause with a rate of interest where he agrees to pay you what is owed at so much per month until paid in full.
I sense that you will get stuck being owed a substantial amount of money in unpaid rent. I would get the name and address of his employer. You should also consult with a landlord tenant attorney because I suspect that you will end up having to chase this tenant for the amount of money owed you for rent.
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