Early Term Fee ETF (by Lucy [IN]) Nov 21, 2022 10:15 AM|
Early Term Fee ETF (by WMH [NC]) Nov 21, 2022 10:24 AM
Early Term Fee ETF (by Vee [OH]) Nov 21, 2022 10:38 AM
Early Term Fee ETF (by Lucy [IN]) Nov 21, 2022 11:20 AM
Early Term Fee ETF (by Moshe [CA]) Nov 21, 2022 12:21 PM
Early Term Fee ETF (by Oregon Woodsmoke [ID]) Nov 21, 2022 4:00 PM
Early Term Fee ETF (by Ray-N-Pa [PA]) Nov 22, 2022 5:26 PM
Early Term Fee ETF (by BRAD 20,000 [IN]) Nov 27, 2022 9:07 PM
Early Term Fee ETF (by Lucy [IN]) Nov 28, 2022 10:58 AM
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Early Term Fee ETF (by Lucy [IN]) Posted on: Nov 21, 2022 10:15 AM
This renter is mad at me because back when she didn’t pay her rent (because of a job loss) I gave her a 10 day notice. I didn’t force her to move, I accepted her late rent and late fees. I also applied late fees and have continued to apply late fees because she’s never paid off all her balance to me.
Also recently she is trying to buy a house and the mortgagee company wanted me to fill out a form for her rent payments, how often late etc. I decided what my records show would not help her so didn’t fill them out. She now has to “jump some hurdles” (show proof of rent payments). And bribed me that she could pay off all her rent/fees if I would “honestly” fill out the form that she was NOT late. No thank you.
She was at one time $45 away from paying her rent off and late fees would have stopped. Well last Sat she deposited an Early Termination Fee (almost 3k) (by check) last Sat. without a word to me. So today I applied it to her rent, sent her a msg asking if she wanted a refund for the difference or to apply it to future rent. HA! She tells me it’s her early termination fee and will be moving out the End of December. (biting off her nose to spite her face)
Anyway, my question is, do I apply these moneys to rent and late fees and then go for the ETF down the road? My lease doesn’t address the order of payment if ETF is involved (I need to correct that). 1. Unpaid Late Charges 2. Damages to Leased Property 3. Attorney and Court Costs, 4 4. Dishonored Check charges and Other Fees Not Paid 5. Past Rent 6. Tenant Owed Utility Bills 7. Current Rent If I apply it to current charges, late fees will stop. If I apply it to the ETF, late fees will still accruing on rent.
Early Term Fee ETF (by WMH [NC]) Posted on: Nov 21, 2022 10:24 AM
Check your state law. NC very specifically addresses how payments made as rent are applied, and it's always FIRST to rent, never late fees or utilities or anything else. --50.82.xxx.xxx
Early Term Fee ETF (by Vee [OH]) Posted on: Nov 21, 2022 10:38 AM
Your standard policy is to apply funds to the oldest - or as you have already stated, the balance. So using the funds deposited to pay off old late fees and unpaid rent is how that goes, then if there is something left that should apply to December -use and occupancy-, then proceed to recover unpaid rent and early termination fee. Reporting a different way would be fraud, you don't want to do that now or ever. --76.190.xxx.xxx
Early Term Fee ETF (by Lucy [IN]) Posted on: Nov 21, 2022 11:20 AM
WMH, I have looked at IN law and cannot find that particular thing addressed. I'm no expert at looking at the laws by any means.
Vee, Thanks for your advice also. I see what you are saying and I think you are correct and will apply to rent and late fees first and any additional rents which there should be one more month of rent. Then will bill for the ETF and probably take her to court and get it garnished if hubby will (his property).
I'm not digging my ELT paperwork. Any good ELT docs to direct me to?
Early Term Fee ETF (by Moshe [CA]) Posted on: Nov 21, 2022 12:21 PM
CA law says:
"Where a debtor, under several obligations to another, does an act, by way of performance, in whole or in part, which is equally applicable to two or more of such obligations, such performance must be applied as follows:
One—If, at the time of performance, the intention or desire of the debtor that such performance should be applied to the extinction of any particular obligation, be manifested to the creditor, it must be so applied. "
That means that, if she indicated in any way that the payment was meant for the ETF, then it must be applied to the ETF, and YOU don't get any choice.
Early Term Fee ETF (by Oregon Woodsmoke [ID]) Posted on: Nov 21, 2022 4:00 PM
I don't know, Lucy. How far is she behind in rent? Sometimes the best option is just to get rid of a bad tenant with a minimum of fuss. She has paid the ETF and she isn't a good tenant. Maybe the best course is to let her go. --76.178.xxx.xxx
Early Term Fee ETF (by Ray-N-Pa [PA]) Posted on: Nov 22, 2022 5:26 PM
You have a bad apple - who is trying to do you right and has given you several thousand dollars.
Sounds like you are getting the loins share of your money and getting rid of a headache too.
As for how to do your accounting - what does your lease say? --24.101.xxx.xxx
Early Term Fee ETF (by BRAD 20,000 [IN]) Posted on: Nov 27, 2022 9:07 PM
#1 It can take 22 days for a personal check to bounce. WAIT before applying it. Don’t let your LL Greed Gland be fooled by big numbers.
#2 How much does she owe before the ELT? I would tell her to bring her account up to date to avoid sheriff lockout and eviction on her permanent public court record. If you file before her loan goes thru she will lose her loan.
#3 Understand the bank will still give her a loan without your rent records.
#4 Closings are often delayed. She is not out yet.
#5 Did she gove you the required 2 calendar month notice?
Stick to the rules. You did not force her to buy a house.
Early Term Fee ETF (by Lucy [IN]) Posted on: Nov 28, 2022 10:58 AM
Thanks for your input Brad. Always good advice.
I did ask my lawyer and he said "I agree that it isn’t in the law. Unless It is dictated by your contract lease, it seems to me that lessee’s money get distributed as lessee chooses." Thus I redid my bookkeeping that way and (a little late) am sending a 10 day notice today. She may move in Dec, or she may not so a 10 Day notice and possible eviction on her record. I was also worried about a claw back on the check, so in the end, I may be suing for unpaid rent and the ETL with the attorney's help and getting only 2/3rds. But I'll get it! Also we are concerned with the condition of the property after she leaves. I suggested early this year to spray baseboards with bug spray. Hubby says ya can't even see the baseboards..clothes everywhere. --64.184.xx.xx
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