Help Me With Sign Nebraska Banking Notice To Quit

Industry sign banking nebraska notice to quit computer

- Last year the Nebraska legislature amended the Nebraska Landlord Tenant Act that changed the non-payment of rent notice from three days to seven days. I'm gonna explain and give you all the details in this video. (light brisk music) (strong vibrant music) Hey everyone, my name is Paul Vojchehoske. I'm the director of Randall School of Real Estate, and welcome to our YouTube channel. Before we get started, do me a big favor. Give this video a thumbs up. Hit that little red Subscribe button, click on that little notification bell, and certainly share this with someone that you think would benefit from its contents. Okay so last year, the Nebraska legislature amended the Nebraska Landlord Tenant Act that required landlords and property managers to serve tenants who are late on their rent, a seven-day notice to pay or quit. Now prior to the legislative change, the industry was required to serve what was called a three-day notice to pay or quit. So what did the law change? Well only the time period. Service notice and structure of the notice, they haven't changed a bit. Again, only the notice period has changed. If you'd like to download an example of this form, leave a link down below in the comment section. Okay so let's take a look at the actual notice period and what changed, 'cause it's very important that landlords and property managers comply with the time periods. All right so let's take a look at the seven-day notice requirements. I got it on the screen here. I've listed it out, the first of the month through the 10th of the month. So let's say your tenant is due to pay the rent on the first of the month. They don't pay, so on the second, you're gonna serve your seven-day notice to pay or quit. That is called a service day. Now we're not gonna talk about what constitutes a proper service, that will be for a different video. But the second of the month is considered the service day, and it does not count as the first day of that seven-day notice. The third of the month, as you can see on your screen, that is the first day of the notice period, and it goes all the way to the ninth day. If they tenant doesn't pay the total amount that's due or requested on the seven-day notice, on the ninth, or by the ninth of the month, then on the tenth of the month, the landlord or the manager can terminate the lease and proceed with the eviction process. Now there's three points here I want you to remember, 'cause it's very important. Number one, all the debts must be listed in the seven-day notice if you wanna collect. So for example, if the rent is $1000 a month, and you have a $50 late fee, and you only put the $1000 in the seven-day notice, you cannot collect that $50 late fee. It's important to remember that. It's important to include all the monies that that tenant is owed. Secondly if the tenant pays the landlord in full, within that notice period, then the landlord must accept that payment of rent. Now if it's a partial rent payment, or they pay you the rent, but they don't include the $50 late fee, as long as that $50 late fee is included in that seven-day notice, the landlord can say, "No, I want all or none." Now number three is we need to rethink our grace periods. If you have a three or a five-day grace period, and then tenant doesn't pay the rent, as you can see, that's gonna push this month all the way into the 15th or 16th of the month before you can even terminate the lease and start the eviction notice, and depending on how booked up county court is, depending on the county you're in, I am seeing where landlords and mangers that have a five-day grace period, the eviction is actually being pushed into the following month, because of the caseload of the county court. All right, that's all I have for today's video. Thanks for watching. If you have any questions regarding this topic, or any other landlord-tenant topic, please give me a shout-out by putting comment or asking your questions down in the comments below. If you have a landlord-tenant question, that you think would be a good video topic, drop me an email. If you'd like anymore information on how to get your real estate license or to sign up for real estate continuing education class, here's our contact information. Again, thanks for watching, and until next video, I hope to see ya in class. (light brisk music)