 ELT not valid SD use (by WMH [NC]) Jan 17, 2022 8:49 AM
 ELT not valid SD use (by NE [PA]) Jan 17, 2022 8:58 AM
ELT not valid SD use (by gevans [SC]) Jan 17, 2022 9:05 AM
ELT not valid SD use (by WMH [NC]) Jan 17, 2022 9:10 AM
ELT not valid SD use (by NE [PA]) Jan 17, 2022 9:15 AM
ELT not valid SD use (by NE [PA]) Jan 17, 2022 9:16 AM
ELT not valid SD use (by myob [GA]) Jan 17, 2022 9:42 AM
ELT not valid SD use (by WMH [NC]) Jan 17, 2022 10:46 AM
ELT not valid SD use (by NE [PA]) Jan 17, 2022 10:56 AM
ELT not valid SD use (by Jerry [MA]) Jan 17, 2022 11:48 PM
ELT not valid SD use (by WMH [NC]) Jan 18, 2022 7:01 AM
ELT not valid SD use (by BRAD 20,000 [IN]) Jan 20, 2022 12:45 AM
ELT not valid SD use (by WMH [NC]) Posted on: Jan 17, 2022 8:49 AM
Message:
FWIW, for those who charge an ELT fee: in NC at least, a forfeiture clause is not an accepted use of a Security Deposit. You can charge one, but you can't deduct it from the SD. SD usage is specifically spelled out and ELT is not one of the accepted charges.
ELT must be paid separately and not deducted from SD. --50.82.xxx.xxx |
ELT not valid SD use (by NE [PA]) Posted on: Jan 17, 2022 8:58 AM
Message:
Sure you can. Like Vee said many years ago. It’s your job to put the monkey on their back. --24.152.xxx.xx |
ELT not valid SD use (by gevans [SC]) Posted on: Jan 17, 2022 9:05 AM
Message:
You can still do it, you are just taking a chance the judge will reverse your decision later. --69.80.xx.xx |
ELT not valid SD use (by WMH [NC]) Posted on: Jan 17, 2022 9:10 AM
Message:
Exactly, gevans. At 3x the price as penalty.
Because you have to document the SD usage in writing, if you list ELT as the reason for a deduction, you've given the tenant the ammo for court. Why NOT sue?
Unpaid RENT is deductible. Forfeiture fees are not. --50.82.xxx.xxx |
ELT not valid SD use (by NE [PA]) Posted on: Jan 17, 2022 9:15 AM
Message:
You’re assuming ALL existing tenants know this. You’re assuming ALL existing tenants are going to run right down to the courthouse and sue you before contacting you first to rectify. You’re assuming the judge will automatically and always rule in their favor. You’re assuming that you’re not going to counter sue in the same hearing for the ELT. Like Brad 20,000 ( round table leader and convention presenter) has said many times, I have a real tough time returning any money when a tenant owes me money. --24.152.xxx.xx |
ELT not valid SD use (by NE [PA]) Posted on: Jan 17, 2022 9:16 AM
Message:
*exiting, @&$#*% autocorrect! --24.152.xxx.xx |
ELT not valid SD use (by myob [GA]) Posted on: Jan 17, 2022 9:42 AM
Message:
I would think if there trying to leave and have a need for a ELT charge -- we as LL'scan come up with enough charges to take care of the dep. Like next months rent or rent to the time of Re-rent. --99.103.xxx.xxx |
ELT not valid SD use (by WMH [NC]) Posted on: Jan 17, 2022 10:46 AM
Message:
I'm assuming nothing, NE. I was just stating the facts of the matter. --50.82.xxx.xxx |
ELT not valid SD use (by NE [PA]) Posted on: Jan 17, 2022 10:56 AM
Message:
And I was just stating the truth. --24.152.xxx.xx |
ELT not valid SD use (by Jerry [MA]) Posted on: Jan 17, 2022 11:48 PM
Message:
If they haven’t provided a separate ELT, then the lease is still in force and the security deposit would be used to cover unpaid rent. In fact, they would continue to accrue unpaid rent until the ELT is paid. The tenant isn’t relieved of paying rent until the ELT agreement is complete. --24.61.xxx.xxx |
ELT not valid SD use (by WMH [NC]) Posted on: Jan 18, 2022 7:01 AM
Message:
Jerry, depending on wording you are right.
I was just point out something I read the other day and wanted NC people to be aware of their wording when doing their SD accounting. --50.82.xxx.xxx |
ELT not valid SD use (by BRAD 20,000 [IN]) Posted on: Jan 20, 2022 12:45 AM
Message:
If this means anything, along with Jerry’s comment,
My lease is clear: All monies rec’d are applied to the unpaid balance. Unpaid balance is considered unpaid rent and grounds for eviction.
Charge the fee, any monies received go to the BALANCE, not a specific category.
BRAD --73.102.xxx.xxx |
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