Comments on: Tenants Are People Too! What Renters need to know about Foreclosure.

By: John

John — Tue, 22 Sep 2009 05:26:33 +0000

What about landlord rights? Our property recently had a foreclosure notice posted on it, and we didn’t know about it until our tenant informed us. We had no idea because we’ve just started a deed-in-lieu process with our lender, after being after our request for loan modification was denied 3 times. We have only one rental property, and this was a house that we actually lived in for 3 years before we had to relocate to another state. Our lender explained that it takes 90-120 days for them to make a decision about our deed-in-lieu request, but said that they will not continue with the foreclosure until they make this decision. Now our tenant is refusing to pay the rent, but does not want to vacate the property either. We’ve left them alone for a month because we figured their security deposit will cover the one month rent, but our property manager said that the tenants intend to stay until the foreclosure pushes through. The tenant accused us of pocketing the rent, and tried to negotiate for a lower lease which we refused (the reason we’re defaulting is because the rent they pay covers less than 2/3 of our monthly payments). They have no idea what our situation is right now and, believe me, a foreclosure and a severely damaged credit rating is not something we would voluntarily go through given any other options. What are our rights as landlords in this case?

By: LA Law guy

LA Law guy — Thu, 30 Apr 2009 16:17:17 +0000

I always thought the rule was 30 days notice. I never quite understood the three day eviction time period. The laws should change for those who are renting out the property and have no contact with the lenders.

By: MDC

MDC — Tue, 24 Mar 2009 09:20:58 +0000

The Nevada Assembly has proposed changes to the eviction laws (AB 189) that will make it much harder on landlords who are not facing foreclosure.
Also I’ve never known a landlord who immediately evicted somebody because the tenant was six days late in paying… unless it was a constant problem and a good excuse to get rid of bad tenants.

In other words… AB 189 if passed will only benefit tenants looking to game the system IMO.

By: Paul Francis, CRS

Paul Francis, CRS — Fri, 13 Mar 2009 19:33:50 +0000

The last home we leased out in Las Vegas really enlightened me on some of the things taking place…

Some of the prospective tenants for that property told me:

They were paying rent to somebody who did not even own the home while the home was being foreclosed on.

Somebody on Craigs list was advertising a home for lease and to send the deposit check out of the country…

Another tenant had 5 days to find a new place because their current place was foreclosed on.

Don’t even get me started on some of the rental contracts I’ve come across where owners have pulled them up from who knows where…

Anyways… good tips and the Clark County, NV website has step by step instructions on how to find out if the home you are renting (or planning on renting) is in foreclosure. You can also see who really owns the home.

And yes.. AB 189 is a knee jerk example of politicians getting involved in something they have little clue about. The excuse is to allow more time for certain people to pay their rent on time before being evicted…

I’ve never known a landlord who immediately evicted somebody because the tenant was six days late in paying… unless it was a constant problem and a good excuse to get rid of bad tenants.

In other words… AB 189 if passed will only benefit tenants looking to game the system IMO.

On another note.. I’ve seen bad behavior on both sides of the deal. The best policy is to treat your rental home as a five star hotel and tenants as five star guests.. works wonders for me.

Paul Francis, CRS’s last blog post: Report suggests 55% of Nevada Homes are worth less then their Mortgage

By: Richard Warren

Richard Warren — Fri, 13 Mar 2009 16:50:06 +0000

The issue of eviction of tenants is getting quite a bit of attention here in Nevada. However, politicians are once again reacting in a knee-jerk manner. The Nevada Assembly has proposed changes to the eviction laws (AB 189) that will make it much harder on landlords who are not facing foreclosure. The bill effectively triples the amount of time it takes to evict someone.

“Assembly Bill 189 which was introduced in the Nevada Assembly on Feb. 18, would make significant changes to Nevada’s eviction laws. For example, existing law includes procedures for summary eviction of certain tenants who fail to pay rent within five days after service of a written notice. Assembly Bill 189 would extend the five-day period to 10 days after service of the non-payment notice.

Existing law also provides that, under certain circumstances, a landlord may obtain an order from the court directing the sheriff to remove the tenant within 24 hours after receiving the order. However, Assembly Bill 189 provides that the sheriff may not remove the tenant earlier than 5 days after the sheriff receives the order. Assembly Bill 189 also provides that if the court issues an order for summary removal of the tenant, the order will not take effect until noon on the fifth day after the order is issued. Moreover, the order will not become effective if the tenant tenders payment of the rent and submits proof of the payment to the court before the five-day time period expires.”