I AM NOT GOING TO PAY THE LATE CHARGES AND LEGAL FEES PHOENIX PROPERTY MANAGEMENT

I AM NOT GOING TO PAY THE LATE CHARGES AND LEGAL FEES PHOENIX PROPERTY MANAGEMENT

We have more and more people investing in real estate. Again, there are three main parts when investing in real estate from my experience:

  1. Acquisition
  2. Rehabbing the home
  3. Property management

PHOENIX PROPERTY MANAGEMENTWe can all agree that the first two steps go very fast. Step #3 requires a unique skill that many people do not possess. The landlord/tenant relationship can make or break a real estate investor. Everything is fine when the tenant pays rent on time each month. It is when the tenant stops paying rent for the following reasons:

  1. Requested repairs are not being completed on time
  2. Loss of job
  3. Divorce
  4. Family emergency
  5. Police lock up tenant 
  6. Death
  7. Pay rent last no budget restraints
  8. Live pay check to pay check disruption in their life stop paying rent
  9. Move out in the middle of night break lease for unknown reason
  10. PLEASE FILL IN THE BLANK

I have one tenant refusing to pay late charges and legal fees because the rent was not paid per lease. Well, the tenant has been out of town for the last eighteen days and did not inform us. He has a legitimate reason beyond his control for being gone. However, that does not mean we stop paying the rent. Well, he got upset with me the other day when he received Eviction Papers. We have a court date this week. Everyone will get their day in court.

I believe this is where many people who do their own property management go wrong. They tend to understand the tenant and overlook the tenant's responsibilities. They tend to forgive them and move on with life. However, it is best to obtain the judgment. It is good for 90 days in Arizona. Then, there is plenty of time to work out a payment plan before the 90 days is up. If they do not pay, then we order the writ of restitution to have the constable assist us in removing the tenant from the home legally.

HIRE PROPERTIES R US $60 PER MONTH PER DOOR

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Comment balloon 4 commentsHarry F. D'Elia • February 26 2012 07:53PM

Comments

Many Tenants have valid hard-luck stories about why they cannot pay the rent.  But every day that goes by is another day that you the Landlord are going to lose money.  Most tenants in arrears are never going to catch up.

In Florida, the Landlord is required to mail or post Notice of unpaid rent, before filing for eviction with the Court. 

Landlords have to understand that they are running a Business; they need to post the Notice and start the clock ticking.

 

Posted by Fred Griffin, on leave of absence from ActiveRain, Licensed Florida Real Estate Broker (Fred Griffin Real Estate) over 7 years ago

I have to agree with you when tenant falls behind hard to catch up

Posted by Harry F. D'Elia, Investor , Mentor, GRI, Radio, CIPS, REOs, ABR (RentVest) over 7 years ago

I am always willing to discuss payment when I have a court date....waiting for tenants to catch-up their rent rarely works!

Posted by Wallace S. Gibson, CPM, LandlordWhisperer (Gibson Management Group, Ltd.) over 7 years ago

Thank you on the confirmation. Landlord has an upper hand with a judgment.

Posted by Harry F. D'Elia, Investor , Mentor, GRI, Radio, CIPS, REOs, ABR (RentVest) over 7 years ago

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