Nonrenewal of lease (by Tommye Sardin [IL]) Jan 18, 2019 3:37 AM|
Nonrenewal of lease (by plenty [MO]) Jan 18, 2019 4:42 AM
Nonrenewal of lease (by Ken [NY]) Jan 18, 2019 5:16 AM
Nonrenewal of lease (by Busy [WI]) Jan 18, 2019 8:28 AM
Nonrenewal of lease (by Busy [WI]) Jan 18, 2019 8:30 AM
Nonrenewal of lease (by myob [GA]) Jan 18, 2019 11:29 AM
Nonrenewal of lease (by BRAD 20,000 [IN]) Jan 18, 2019 11:48 AM
Nonrenewal of lease (by BRAD 20,000 [IN]) Jan 18, 2019 11:49 AM
Nonrenewal of lease (by Busy [WI]) Jan 18, 2019 12:45 PM
Nonrenewal of lease (by Landlord ofthe Flies [TX]) Jan 18, 2019 12:47 PM
Nonrenewal of lease (by myob [GA]) Jan 18, 2019 2:15 PM
Nonrenewal of lease (by small potatoes [NY]) Jan 18, 2019 4:24 PM
Nonrenewal of lease (by Vee [OH]) Jan 19, 2019 9:08 AM
Nonrenewal of lease (by Jerry [MA]) Jan 19, 2019 10:00 AM
Nonrenewal of lease (by Susan [FL]) Jan 19, 2019 5:35 PM
Nonrenewal of lease (by WMH [NC]) Jan 20, 2019 3:18 AM
Nonrenewal of lease (by Ray-N-Pa [PA]) Jan 21, 2019 7:51 AM
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Nonrenewal of lease (by Tommye Sardin [IL]) Posted on: Jan 18, 2019 3:37 AM
Tenants are habitual late rent payers. In the year only paid on time twice. Not renewing lease I want to give 60 days notice instead of 30 days notice.
Some persons believe I should stick with 30 days. Rationale for advance notice to ensure tenants exist in a timely manner so I can market unit.
Nonrenewal of lease (by plenty [MO]) Posted on: Jan 18, 2019 4:42 AM
I suppose the reason they say stick to your state laws or written lease is that if tget6are late payers they may not pay at all. That would be two months instead of one. Then you have to follow thru with eviction. If 30 days work i would only give them what they would give me. Also dont ever give a reason other than the contract ended. --99.203.xx.xxx
Nonrenewal of lease (by Ken [NY]) Posted on: Jan 18, 2019 5:16 AM
Give 30 days notice and realize they wont pay the rent so you will very shortly begin with an eviction for non payment,i suppose give 60 days notice if that is a better time frame to begin the eviction for non payment because it is inevitable --72.231.xxx.xxx
Nonrenewal of lease (by Busy [WI]) Posted on: Jan 18, 2019 8:28 AM
Just to put out a different perspective-
I only do MTM (for various reasons), and , I have good success with letting tenants get a different payment date every month, if they want. I agree with most on this board that this isnít a good plan for most landlords.
Hereís how my method works: rent is due on the fifth. IF tenant will not be able to make it on the fifth, they MUST text me with a new date they will pay, I must approve the new date. There is a $25 late fee for this. If, for some reason, they donít have it all by the new date, they MUST text ahead of the date, with another new date, I must approve, and there is a $10 fee.
Some things to this: I do go over, have a conversation with them, make sure they still have a job, still have means to pay. I NEVER let them go over one month into the next. They will not get caught up. Ok, that isnít true. I have let two go over, one eventually got the boot over volatile behaviors (rent caught up,) the other is still with me years later, pays on time every month. Still owes a very small amount from an overdue water bill, that I earn 18% on, and has that almost paid off.
Keep in mind, I have a Mom-type personality, donít have a lot of properties, and, have a strong ability to train/teach.
If tenant doesnít text BEFORE rent is late, they will get a five day Pay or Quit on their door. Those of you who know Wisconsin landlord laws can spot the two egregious errors I made in this. But, my tenants donít know. I am not doing anything illegal, just wouldnít have a legal leg to stand on with that five day Por Q. ( My proper Notice should be the 14 day Notice to Vacate, no remedy available to tenant) Ssshhhhh..... The five day gets their attention, they donít make the mistake of not texting again.
I do my method because, in my experience, tenants have a fear of landlords, and, in my city, sadly, the MOST segregated city in the US, there is massive distrust of Ďthe one of these things that donít look like the others.í I am the one who doesnít look like the others, in my rental area. Once my tenants know I deal fairly, and want us BOTH to be successful, trust develops, my system works.
Again, my system isnít for most landlords. I have patience, ability to train/ teach. My system keeps my tenants in place longer, the houses are kept very clean, tidy, my tenants all get along with neighbors. I am very slow at rehab/ turnovers, (and a lot of contractors who work in the suburbs refused me to work in the city.) so, for me, and my skill set, keeping a tenant and developing them into a great tenant is my best plan for financial success.
Just a perspective....your mileage may vary ( ymmv)
Nonrenewal of lease (by Busy [WI]) Posted on: Jan 18, 2019 8:30 AM
Oh, kindly find a moniker other than your actual name. Or, maybe this is a nickname, not your actual name.
Keep things on the down-low on the web. --70.92.xxx.xxx
Nonrenewal of lease (by myob [GA]) Posted on: Jan 18, 2019 11:29 AM
Busy you have made getting rent complicated. Maybe on one or 2 units-- its a go but not when your rent roll is 100? It's like Abbot and Costello's "who's on first" cause I don't know who's on 2nd going into 3rd.
"Rent due on 1st! late second day and starts late fee of $8.00 per day. We can file for non pay when rent not received first day of business. --99.103.xxx.xxx
Nonrenewal of lease (by BRAD 20,000 [IN]) Posted on: Jan 18, 2019 11:48 AM
What Ken and busy said about notice. I'd give 30 days notice but understand they might take longer so same as if you had given 60 days.
Ideally collect the rent THEN give notice.
Thinking: Understand you have trained them it's OK to be late by allowing this 12 times.
Me? It's obvious they don't have the money on the first. I would put them on PayDayPlanRent - weekly, with autodraft from their checking account. Bite sized pieces taken out each Friday. YOU control the payment, not waiting and HOPING they pay.
Rent divided by 4, plus $10, 52 times a year. No longer about the month, just Friday , Friday, Friday...Just like their paycheck!
HELP them give you money.
Nonrenewal of lease (by BRAD 20,000 [IN]) Posted on: Jan 18, 2019 11:49 AM
PS Weekly rent will bring in a 13th month of rent each year.
Nonrenewal of lease (by Busy [WI]) Posted on: Jan 18, 2019 12:45 PM
MYOB, sure, I agree, my method isnít for everyone. I said that many times in my post above. What I have made is a
SYSTEM THAT WORKS FOR ME !
The original poster either doesnít have 100s of units yet, OR, original poster is in waaaaay over his head IF he has 100s of units and hasnít figured out a
SYSTEM THAT WORKS FOR HIM!
I was only presenting my system , as, it was clear to me that the original poster hadnít figured out a way to deal with late rent payers. I AM NOT saying anyone elseís methods are wrong. In fact there are many, many good ideas, all different, all can work, depending on the knowledge, skills, and abilities of the person implementing them. I VERY MUCH like Bradís system, in fact tried it on my two chronic lates. The one tenant probably merits a diagnosis of O.D.D., and that was getting in the way of it working for her. (No, I am not legally qualified to diagnose O.D.D., but have worked with it enough to spot it.) The other tenant was going Ďthrough a rough patchí went through several different jobs, so the pay dates were constantly changing. So, that is where I developed my current system.
I agree with you FULLY that my system gets hairy in the months when everybody has something come up. AND, to top it off, I have a couple of tenants that have taken my Dave Ramsey (and others) references to heart. Two tenants who work seasonally are paying ahead, so when they are off in the summer, they are paid up. I have to keep on top of that, cuz they get months and months ahead.
But, MYOB, you and I are very different personalities. Whatís in your skill set is very different than mine, and vice versa. Iíll NEVER have hundreds of units. Heck, I doubt Iíll ever have more than a dozen. MOST landlords donít. And thatís the great thing about this landlording gig. There is room for all kind to be successful.
Nonrenewal of lease (by Landlord ofthe Flies [TX]) Posted on: Jan 18, 2019 12:47 PM
Do you want to give them 60 days to hate you while living in your rental or just 30 days to hate you? --108.69.xxx.xxx
Nonrenewal of lease (by myob [GA]) Posted on: Jan 18, 2019 2:15 PM
Busy sorry I'm a "get to the meat" kind of person (as most here know).
I love any system that works for the user. AND yes you did make it clear the system isn't for everyone. With all the other clutter out there in the LL world I don't want to remember what I need from this one or that one that's different than others. I really don't want to skirt the laws of GA so I follow them as far as rent billing goes. We go to court A LOT (I mean a lot) so I can't get tripped up by some smart body judge who's just itchen to put Mr. Bad LL in jail-- for anything. So I try to avoid being to cute with the tenants. My policy is it says this and this is what the law says-- so that's how we roll with it.
To be clear I like what you did thinking it thru and the profit potential built into it. --99.103.xxx.xxx
Nonrenewal of lease (by small potatoes [NY]) Posted on: Jan 18, 2019 4:24 PM
I have a long time tenant who habitually pays late. I made 150 in late fees last year from this tenant. I increased the late fee to 50 so I'll make more, they're not going anywhere and I inherited them from the PM company + they low maintenance. So extra for me!
I'm not a gambling man but I'd be tempted to put money on your tenant using the security as last month rent. If you can tolerate it raise the rent and late fee, otherwise cut them loose. If your state allows 30 days then go w/ that.
When they don't pay right away in the last month file a 3 day notice. --24.194.xx.xx
Nonrenewal of lease (by Vee [OH]) Posted on: Jan 19, 2019 9:08 AM
Unless you are collecting good late payment fees this place should have us new tenants about 11 months ago, ask the manager how this happened and deduct from pay next time.
Nonrenewal of lease (by Jerry [MA]) Posted on: Jan 19, 2019 10:00 AM
Give 45 days notice. Wait until you have been paid for the month before their last month. If you notify too early, they might not pay you for the last two months. If you give 45 days, you only have one month of rent at risk. --71.233.xxx.xx
Nonrenewal of lease (by Susan [FL]) Posted on: Jan 19, 2019 5:35 PM
Give as long as you need to make YOU the good guy in court......"I gave them longer notice for planning and saving their funds to move, your honor". Tenant will dislike You whether You gave 15 days or 75 days. You still may have to evict, but you gave them plenty of notice! --162.238.xx.xxx
Nonrenewal of lease (by WMH [NC]) Posted on: Jan 20, 2019 3:18 AM
Jerry/MA is right. Give 40-45 days notice. Get paid for second to last month, possibly (probably) not for last, use SD for that. --10.200.x.xxx
Nonrenewal of lease (by Ray-N-Pa [PA]) Posted on: Jan 21, 2019 7:51 AM
Being a Landlord is a training business, what have you done to train these residence about paying on time? What can you do better so you don't have to "enjoy" another vacancy with the next set of residence?
Sometimes some folks just don't want to be trained, but I find this group of folks are in the minority --72.23.xxx.xx
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