RE: Selling house and Tenants are late on rent

RE: Selling house and Tenants are late on rent by Marilyn on June 21, 2003 @09:26

This is the third month that my tenants are late on their rent. First month their check bounced, second month, I didnt' get paid until the middle of the month and this month, June, they are waiting on a settlement from a law suit they won and I haven't gotten paid. Now, I have never been called dumb in my life, but I sure feel like a fool here. I've accepted all their stories as true, but at the same time, I'm affected by their lateness each month. I've decided to evict them and served them a 3 day notice on the 19th of this month, the second 3 day notice. I serve one last month and recieved my monies a few days later. I'm not sure if the same will happen again this month. I've gotten to the point that I am so sick of their excuses that I don't want to here them anymore, I just want them to pay, like any landlord. In any event, I am listing the house again with hopes of selling it this summer and I wanted to know what type of rights the tenant has with regards to selling. That is if they survive the eviction by paying the total amount of the rent due. I've searched the web over and have not found anything regarding selling a rented property. There lease isn't up until October, but I don't want to wait until then to put it on the market. Any advise is welcome and thank you for taking the time to reply.

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RE: Selling house and Tenants are late on rent by Jack on June 22, 2003 @11:26	[ Reply ]

Hi Marilyn, I know how you feel and have been through this a few times too. One important thing to keep in mind when selling a rented property with a lease is that legally, a lease survives the transfer (sale) of the property. On the other hand, a lease in default can be terminated or restructured. If these were my tenants, I'd warn them that if they don't pay up and cooperate with selling I have access and am planning to make a serious negative mark on their credit report that will stay for 7 years. (LPA members now have this power beginning in July) Good Luck. Jack