Re: payable for how many days? - Landlord Forum thread 358670

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

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.

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