The LPA Newsletter Late January 2010
Dear Fellow Landlord,
I hope you are attacking tenant problems before they even happen, an if they are happening now, remember this quote by Anthony Robbins: "Action is the foundational key to all success." Enjoy this newsletter and kick some butt!
In this issue:
- Collecting Money Owed by a Tenant by Real Estate Attorney William Bronchick
- Landlord Do's & Don'ts on Late Rent
Please keep an eye out for a new article and free download in February's newsletter. Please e-mail us if you have any questions or would like to add or share any material / information.
John Nuzzolese
John@theLPA.com
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Collecting Money Owed by a Tenantby Attorney William Bronchick, Legalwiz.com
Did you ever have to evict a tenant for non-payment of rent, then get stiffed for the bill? You may be able to collect what is owed to you, even years later.
First, you need a court-ordered money judgment. If you filed for an eviction in court, you received a judgment and order of possession. The actual name of this court order may change slightly from state to state, but it's the same thing - a document signed by a judge that permits a local sheriff or constable to forcibly remove the tenants from the property.
In most states you can also get a money judgment against the tenant, but this requires one of two things: 1) the tenant must have been personally served with the court papers or 2) the tenant must have shown up in court. If the eviction papers (the court papers, not the notice to pay rent) were posted on the door of the unit and/or mailed to the tenant, you generally do not get a money judgment from the court.
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What About Security
Deposits?
If you have a
security deposit
from the tenant, you
can apply that
against anything he
owes you for back
rent or damages.
However, you still
must comply with
state law for
notifying the tenant
of your intent to
keep the deposit.
Even if you return
the security
deposit, you can
still sue the tenant
for actual rent owed
and/or damages
incurred to the
unit.
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If the tenant left before the court date or you did not otherwise get a money judgment, you can always sue the tenant in your local small claims court for money owed and any damages to the property. The process is quite simple, and does not require a lawyer. You have to file the claim before the end of the statute of limitations, which generally ranges from three to six years, depending on which state you live in.
Once you have a money judgment, you can collect it against all non-exempt assets of the debtor....
click for the full article...
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Landlord Do's & Don'ts
Topic: Late Rent
What The LPA says you should do and what you shouldn't do:
DO Be quick to send a late notice as soon as the rent is late. Very often, landlords don't want to seem too eager for the rent that they will give the tenant an extra day or two. That procrastination usually turns into at least a week. Before you know it, the tenant is in serious violation of the lease. That's why we have to be on top of the rent right away. Be ready to use these forms in order:
Notice of Past Due Rent
Urgent Late Notice
Notice to Pay Rent or Quit
DON'T be a procrastinator.
DON'T get into any heated discussions with the tenant.
DON'T fall for the old sob story routine.
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Tenant Excuses
"When I take a bath, after a while the water starts seeping out the drain. You have to replace the tub drain. I don't like taking baths and having he water drain away!" - Samuel, FL
"I forgot." - the only problem is the tenants forget every single month and I have to call them to "remind" them. This has been going on for years. Molly, Nebraska
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Fellow LPA Member, Dr. Danielle Babb is a national real estate expert and author of the new Landlording Book, "The Accidental Landlord".
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Not only is Danielle Babb one of our county's most knowledgeable real estate analysts, she also shares excellent landlord information and advice in her book, "The Accidental Landlord". Plus she's a super nice person! - John Nuzzolese
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