I have a big problem with letting my tenants go without paying rent for what is going on 4 months. This is my first investment property (Brighton, CO) and the 2nd set of tenants I deal with. I have only myself to blame for trying to be the nice guy and letting it go this far and have learned a hard lesson. To make a long story short I was a softy for a pity story about breast cancer. The unit rents for $1275 a month and late fees are $25 a day. At first I told them they would not have to worry about late fees if they got me all of their money which was another huge mistake on my part. Anyway, today they are getting served an eviction notice and will be out in 30 days. They currently owe me $5100 reg. rent plus $2500 late fees and bounced checks. My lease does state that the tenant is responsible for all legal and collection fees if they are in default so I’m not worried about that.
What is the best way to collect my money?
Do I use an attorney and sue?
Do I use a collections agency?
Is there a way I can have their wages garnished from their paychecks and tax returns?