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Author Topic: Short paying tenant...  (Read 3188 times)

Offline Brad-TX

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Short paying tenant...
« on: April 28, 2004, 08:25:30 am »
I have a tenant that short paid his $2,100 monthly rental payment by $500.  The next rent due is May 1.  Hes hurt his back keeping him from work until further notice.  Hes been a good tenant for over 2 years.  This is first problem weve had.

Now hes not returning my calls.  I can squeeze by and make the next mortgage payment myself but thats it.

This would be my first eviction to go through.  Any advice or guidance would be much appreciated.

Brad-TX

Offline Hal Roark

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Re:Short paying tenant...
« Reply #1 on: May 21, 2004, 07:13:31 am »
Brad,

First thing you want to do is find out what the eviction procedures are for your area.  In my area, if I take a partial payment of the rent... even 1 cent... I can't evict the tenant that month.  I'm not saying that's your law for your county, but, in order to evict anywhere, you must follow the letter of the law EXACTLY.  Find out your laws first.

One great source for finding that info is your local reia group.  This site has an excellent reference to the reias here:  http://www.reiclub.com/real-estate-clubs.php

Next, talk with the tenant and try to problem solve.  He/she has been a good tenant.  Acknowledge that.  See if you can work something out, but not at your grave financial expense.  If you can't work something out, give them time to move out, and, get the right to show the place even while they are in it.  You want to begin your marketing asap so you can decrease your vacancy expenses as much as possible.

How does that sound?  Doable?

Hal  
www.landlordingsecrets.com
How to Make The Biggest Profits Landlording to Niche Tenants
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