Re: payable for how many days? - Landlord Forum thread 358664

Re: payable for how many days? by Ann on October 12, 2018 @06:05

What if Landlord does not have enough financial arm and time to wait for 60 days = 45 + 15 days especially when the damage is exceeded security deposit?

Landlord has to reduce the loss to get the damage repaired in time matter, than find new tenant or sale or whatever. All the above needs fund.

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Re: payable for how many days? by Garry on October 12, 2018 @11:34	[ Reply ]

Ann, as I said earlier, YOU ARE A BUSINESS !! YOU are expected to be able to weather ANY financial hardship (at least tempararilly ) that comes your way. There is NO EXCUSE for you not having enough backup money available to you from SOMEWHERE,to repair damages a T has left you. Yes, the first line of backup is the Ts deposit money, which you have already used. The next backup money comes from YOUR savings accounts ( tempararilly). If you have no savings, then BORROW money from friends, relatives, a line of credit you may have, get a loan on your car, etc. As a guideline, a LL should ALWAYS have an amount equal to at least 3 months of rent, for EACH unit they own, sitting in a savings account, (or at least setting in a line of credit you have established) for backup when Ts leave a large amount of damages, or you have a mortgage you have to pay, but no income for several months. Once you have the damages repaired, and the place rented out again, THEN you can take the T to court to get back the money the Ts owe you.