Grads will recognize this location

InnoVest Resource Management's

Foreclosure Forum

Home

Discussion Board

"Hands-On" Training

Title Holding Trust

Annual Reunion

Speaking Schedule

Store

Foreclosure Fundamentals

Code References

50 State Foreclosure Basics

Foreclosure Glossary

Foreclosure Statistics

70+ Yrs Interest Rates

Fillable Forms

Archived Articles

Dingbat Retirement Plan

Links

Contact / Map

About Us

Home

 

BBBOnLine Reliability Seal

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ]

Re: Tenants from Hell

Posted by Kristine-CA on December 18, 2009 at 9:34 AM

In Reply to: Tenants from Hell posted by Ann on December 17, 2009 at 6:57 PM

If it were me, and it has been, I'd look at the $2000.00 that you might have to spend in legal fees and reconsider how to use it. Cash for keys has often worked for me. But if you are dealing with someone who has no other resources and has bad credit, etc., they might reject a cash offer because sometimes no amount of cash is going to help them relocate.

If you decide to go this route, there are some strategies that make it go smoother. For example, you send a letter that offers the tenant $1K to leave by a certain date. The requirements are what you make them (removal of all personal property, broom swept clean, etc.). Tenants must sign and return agreement. If the tenants agree, they must meet you a location away from the property in order to collect the fee. Someone else goes to the property while it's vacant and checks it out to make sure nothing is left behind and changes the locks etc. They let you know via cell phone that all is as agreed. Tenants get cash and sign release docs relating to any legal actions. Done.

I've also used a three tier offer a couple of times: $1K if they leave by a certain date, $500 if it's a a week later, etc.

Don't get too wedded to whether or not they accept a cash for keys offer. And do not get all moral about how the tenants don't deserve any money. Of course they don't. You are running a business and need to think rationally about preserving your asset. Consider it a strategy to save you money and perhaps damage and act accordingly
: Hello,

: We are currently in the process of evicting a tenant from hell. He appears to be one of those "professional" tenants. He has not been paying rent since Sept 2009 to the present day. He has filed false answers to our eviction proceedings by stating that the property is not habitable and such. When he moved in, the place was in great shape and was cleaned and we have documentation to confirm such was the case. His false answers are a delay tactic so he can continue to remain in the property for free. We hired an attorney to complete the eviction process. So far, he has charged about $1500 to file the eviction and to attend court hearings. Now the case is going to a full trial and it is estimated the legal costs will increase $2000 more. We cannot afford to pay these outrageous bills. What are our options? We just want to get these creeps out and we are beyond frustrated and angry at these tenants.



Follow Ups:


Post a Followup:

Name    : 
E-Mail  : 
Subject : 
Comments:


[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ]

WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-date("Y"), InnoVest Resource Management
http://www.foreclosureforum.com

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455