 rent payments (by Bill [WI]) Feb 1, 2014 6:04 PM
 rent payments (by BRAD 20,000 [IN]) Feb 1, 2014 7:02 PM
rent payments (by Cat [WI]) Feb 2, 2014 1:31 PM
rent payments (by Cat [WI]) Feb 2, 2014 1:34 PM
rent payments (by Bill [WI]) Posted on: Feb 1, 2014 6:04 PM
Message:
State Specific Question About: WISCONSIN (WI)
I have renter that I had made arrangements with to pay his rent weekly instead of on the 1st of every month. He hit hard times and I figured I would have a better chance of getting my rent this way. We have been doing this for about a 1 1/2 years now. I would like to go back to him paying his rent in full on the 1st of each month. What kind of notice if any do I need to give to him. He is on a year to year lease and it states rent is due on the first of each month. Any advise would be appreciated as well as a place to review the laws. Thanks in advance for your help. --68.190.xxx.xx |
rent payments (by BRAD 20,000 [IN]) Posted on: Feb 1, 2014 7:02 PM
Message:
Bill,
Any special reason to make a change?
Sounds like it's working.
Add a few bucks to each weekly payment and make more money.
I don't know the WI law, but I'd start with a basic letter. If he agrees and pays you are golden.
Personally, I don't expect someone who is used to weekly payments to be able to save up for a monthly payment.
-Brad
--67.175.xx.xxx |
rent payments (by Cat [WI]) Posted on: Feb 2, 2014 1:31 PM
Message:
Tough Question. Some of the areas in Wisconsin have stricter laws, such as Madison and Dane County (possibly others),so what would work for me, may not be legal in areas that have more and stricter laws.
If your years lease states that you will take weekly payments, my guess would be that you are locked into the terms of that lease until it expires. If so, I would give them at least a 60 day notice, if not 90 days, before the end of the current lease, of the change for the next new lease. If they are used to paying weekly, they may not be in a position (either mindset or finances) to go back to monthly.
Click on landlord-tenant laws in blue above and then on Wisconsin, to find out some of the laws. There are also some laws in another section of the statutes of Wisconsin but I do not remember where, off hand.
Anyway the laws listed are for general Wisconsin laws. If you live in an area with stricter laws, you would have to get info from those cities or counties, which REALLY get carried away with putting new laws in. I hope this helps. --50.124.xxx.xxx |
rent payments (by Cat [WI]) Posted on: Feb 2, 2014 1:34 PM
Message:
Oops. I just re read it and noticed that you said the lease states that it is due on the first. Did you give them any notice in writing of allowing them to pay weekly instead of monthly?
I think I would just let them know your plans IN WRITING, and see how they react, and then give them a period of time to adjust with their payments, if they will.
Otherwise you may need to just wait until the lease ends and specifically state in the new lease that weekly payments will no longer be allowed, to keep them from just trying to force the same terms with a new lease. For the record, have they been paying those weekly payments on time or are they behind? --50.124.xxx.xxx |
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