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T/B'er only has half of rent - http://www.dealmakerscafe.com Forums

Original message

Dee-Texas

"T/B'er only has half of rent" , Thu 2 Nov 16:31

I've never had this happen before. One of my T/B'ers send a note with a check for 1/2 of the rent. He's been trying to call since Oct. 31 (saw his number on the I.D.)so I feel like he was trying to tell me that he would be late.
I really don't know what to do. He wrote me a note explaining that he would pay the rest by Nov 16th but he's having problems because his wife lost her job to lay-offs at the plant.
He's been in the house since May and has always paid on time before.
What do ya'll do?
Dee-Texas

Always Learning

Replies:

wgreau

"Re(1):T/B'er only has half of rent" , Thu 2 Nov 23:39

Dee: Good to have you back. One of the numerous things I've learned over the years (especially as a landlord)is that people will treat us the way we teach them to. In other words, once we set a precedence of being easy/understanding it teaches them they can probably get away with it again. We all have our bad times. And I appreciate people that let me know up front when they have a problem. I learned (the hard way) to make certain they pay the late fees, which are stiff. I don't like paying late fees and doubt anyone else does....so I go out of my way to avoid it. Most tenants will if you enforce it. The "Notice To Vacate" unless payment is brought current by a given date lets tenants & T/B's know you are serious.....and in a polite, but business like way. It pays to tell them right up front...if you don't pay your electric bill, they can't take your house away.
If you don't pay your doctor bill, he can't take your house away.
If you don't pay ME...I can take your house away.

William Columbus OH

Dealmaker
Moderator

"I agree.." , Thu 2 Nov 21:21

I agree with Lynn. As a landlord, when you start leaning backwards, eventually they PUSH you over. Don't wait for them to make the next move. Issue the notice to pay or vacant and play by the rules (YOUR rules). If they come up the Cash you can always stop the eviction.

If you start soft and get emotionally involved, you're gonna get burned.

Dealmaker

Lynn
Moderator

"Re(1):T/B'er only has half of rent" , Thu 2 Nov 21:14

Okay, I'll be the first to tell you that I am a hard ass landlord, but I think it is necessary to be so. In your case I would probably go ahead and issue the eviction notice and let the T/B know that it's "company policy" and you have to do it. If you feel confident in waiting until the 16th, make sure that you get all of your rent, and all late charges. Also let him know that if you don't have the money "in hand" on the 16th that you will have no choice but to proceed with the eviction "company policy of course".

We often tell our t/b's that we have investors that back us up and that we must follow the "policy" or we will have big problems with our investors.

You have to make the call!

Good Luck!

Happy Investing!
Lynn

Dee-Texas

"Re(2):T/B'er only has half of rent" , Fri 3 Nov 09:48

Thanks for all of your posts.
I talked to him today and he wants to keep the house but he and his wife has separated. It's hard for him to make the payments by himself.
I used Lynn's idea and told him of my investors and the problems that this will be with them. *great idea* He understood and said so.....I told him that I would talk to them and see what kind of late fees I could arrange to help him but could NOT go down on the rent. He understood, but still wants to keep the house.
(Frankly, I don't see him being able to keep the payments current with his paycheck alone, but I'll work with him for a month and see)He also owes for a fridge, so I told him that I would add the payments to the end of the note (aka Lonnie)and make his payment per month smaller, so that might help the house payment. He liked that idea and I don't have much at all in the fridge.
Hopefully it will be win-win with all of your help.
Dee-Texas

Always Learning