 One paycheck away... (by WMH [NC]) Sep 17, 2018 8:23 AM
 One paycheck away... (by S i d [MO]) Sep 17, 2018 8:31 AM
One paycheck away... (by BRAD 20,000 [IN]) Sep 17, 2018 12:25 PM
One paycheck away... (by fred [CA]) Sep 17, 2018 2:59 PM
One paycheck away... (by WMH [NC]) Posted on: Sep 17, 2018 8:23 AM
Message:
So Hurricane Florence was projected to hit us directly and they ordered Mandatory Evacuations beginning last Tuesday. Many didn't leave until Wednesday or Thursday, came back on Saturday. But in fact, most didn't leave at all because where do you go? Apparently not west inland!!
Just saw a prospective resident (they've filled out pre-screening but house is not ready to show so have not met them yet) post on FB that "the storm really hurt us financially."
The storm that didn't even hit us, and that I'm pretty sure (based on FB posts) they didn't evacuate for...
I'm sure they missed a few days of work, yes. But just goes to show, most are just one life event away from financial disaster.
And that's why we insist on 3x the rent MINIMUM income. --50.82.xxx.xx |
One paycheck away... (by S i d [MO]) Posted on: Sep 17, 2018 8:31 AM
Message:
Yes!
I forget the stats (and they seem to vary) but somewhere around half of all American's have less than $1000 in savings.
I doubt most of my residents could handle a $1000 event. This is why we do pay day plans to ensure we get paid ASAP. I can't trust them to save for a whole month because "stuff happens" and when stuff happens and it's the middle of the month, guess who gets shorted? The LL next month.
Zero tolerance. Our process is rent is due on whatever date we all agree on. The day it's late we begin the process.
Step 1 Text reminder.
If they respond, we'll put them on our lowest payment plan: weekly. They must stay 100% caught up on this, no room for negotiation.
If no response or they fall off the weekly plan, then on Day 7, we file. No Pay or Quit required here. Can have them out and get the money judgment by the 2nd/3rd of the next month. That way we get quite a bit more awarded to cover the cost of collections. --173.23.xxx.xx |
One paycheck away... (by BRAD 20,000 [IN]) Posted on: Sep 17, 2018 12:25 PM
Message:
W,
Definition of EXCUSE: "The skin of a reason stuffed with a lie."
After a flood rentals are scarce and prices go up. I wonder if you are close enough to the flooding to see an increase.
Locally we could have rented 100 more houses after our flood, to good folks with good jobs who had been flooded out of nice homes.
The contractors were "swamped" (pun), many booked up for a year with high paying insurance jobs.
So glad you and hubby are OK.
BRAD --68.50.xxx.xxx |
One paycheck away... (by fred [CA]) Posted on: Sep 17, 2018 2:59 PM
Message:
Anyone who has a mortgage knows how inflexible the mtg co is, or what will happen if they skip a payment.
Well LLs should be the same as lenders.
Demand rent on time and try not to make "deals". --99.59.x.xxx |
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