Re: justice in court systems????? - Landlord Forum thread 355994

Re: justice in court systems????? by Garry (Iowa) on February 2, 2018 @00:13

I have 20 places I rent out. I usually end up doing 1 eviction each year. I deal with mostly all low income tenants living paycheck to paycheck. I usually end up losing $2-$4,000 on each evicted T, between loss of rents for 2-3 months, utilities, and repair of damages.I don't chase tenants to collect monetary damages like most LLs do. It's too hard to find Ts who don't want to be found, and they usually don't have a pot to pee in, let alone money to pay me back. For me, personally, I would rather take the monetary loss from an eviction, than go thru all the headaches involved in "maybe" getting my money back. But that's just me. I totally get it that many LLs should, and do, pursue tenants to the end of the earth to get what's owed them. I am not a vengeful person. Once I get rid of a T, I don't want to see them ever again. I'll take my losses on paper, get the place fixed up and re-rented, and MOVE ON with my life.

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Re: justice in court systems????? by Doug on February 6, 2018 @13:07	[ Reply ]

It is frequently cheaper in the long run to just let it go. If you get the judgement, then I think you get to write off the loss for the interest on the debt each year. (check with a CPA to be sure, currently that's on my list for the accountant appointment later on). Between the time lost running my business and doing work to improve properties, acquire properties, etc. it's usually easier and cheaper to take the loss on the taxes and move on.