I frequently hear frustrated landlords complain that “I’ll never see that money, so why even bother trying to go after a tenant who owes me?” Sometimes that is true, but not always. It is almost always worthwhile to make an attempt to collect what is owed to you. By following the simple steps and procedures outlined below you can begin to reduce the amount of money that tenants owe you and ensure that your business becomes even more profitable. The best way to get nothing is to do nothing The only way to guarantee that you won’t get anything is to do nothing. Far too..
Friday Fail – Excuse of the Week
I can’t find my lease, but I remember that it said I only had to pay rent for when we are here… We’ve been on vacation for a week, so I’ll just pro-rate this months rent! While some things only require you to pay for what you use, rent is not one of them. It is important to understand the terms of your lease agreement prior to signing it. Once it is signed you are legally obligated to those terms.
Friday Fail – Excuse of the Week
The tree in the front yard aggravates my allergies… I refuse to pay until you have it removed! The tree was a HUGE 40 year old cottonwood tree!
Wednesday War Story – Plug Problem
A maintenance request was turned in to the management company regarding a hazardous outlet that sparked whenever something was unplugged. The manager, rushed over due to the fire hazard and was unable to ‘re-create’ the issue so a licensed electrician was called in. He was also unable to isolate the issue, so they changed out the outlet and double checked that the wiring was ok. A week later, the tenant called again stating that the problem had returned, and again the electrician was sent out, nothing was able to be found wrong with the outlet. After careful review and speaking with the tenant the..
Friday Fail – Excuse of the Week
My company went bankrupt so i’m going to be late on rent…..
Friday Fail – Excuse of the Week
“It’s not MY fault that YOU have a mortgage!” It is a fairly common belief that owners of a rental properties have a lot of money, the reality is that most do have mortgages that have to be paid. Mortgage companies don’t except the excuse of, “my tenant didn’t pay rent this month” as a valid reason why they didn’t get the payment. Unfortunately, the end result of not paying the mortgage is a foreclosure and then both the tenant and the owner suffer.
Wednesday War Story – Someone Else’s Credit?
My credit is REALLY bad, so if you don’t mind, I was going to use my friends social on the application! Unfortunately, this would be considered identity theft! photo credit: www.freeimages.com/ivanvicenio
Friday Fail – Excuse of the Week
I’ve decided that I want to pay rent at the end of each month. So you’ll get your money on the 30th! In this situation the lease prevails. If the rent is due on the first, it can not be changed without the agreement of everyone (tenants & management/owners).
Wednesday War Story – Cabinet Conundrum
During a regular, routine inspection, the tenant asks the manager to NOT go into the kitchen. Unfortunately for the tenant, the manager needed to go into the kitchen to complete the inspection. Upon entering the kitchen, the tenant tried to explain… “I saw a great Pintrest picture with open shelving….” Needless to say the tenant had removed EVERY cabinet door and drawer from the kitchen. When they were informed they needed to put the kitchen back together, they found that when they removed doors & drawers they didn’t label them and even the slightest difference was VERY noticeable, and cost them a lot of time..
Friday Fail – Excuse of the Week
I know I didn’t ask if it was ok to get a dog, but I did anyways. What do you mean I can’t keep him…. he’s family! When someone decides to rent out a property they have the right to choose if they would like to allow pets. Simply getting a pet does not mean that you will be allowed to keep it. Talk with your manager BEFORE you bring a pet on to the property to avoid legal consequences.
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