indiana indianapolis tenant skipped last months rent/ vandalized

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indiana indianapolis tenant skipped last months rent/ vandalized

Brandon P.Pro Member
Investor · Paradise, CA · Member since 2015 · 102 posts · 15 votes

I had a tenant partially move out and the place has been broken into and vandalize she has not paid the last months rent what are my options?

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Bjorn AhlbladPro Member
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
4y

I have had the same.........get it ready for the next tenant. Some things are just part of the business.

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  • Bjorn AhlbladPro Member
    Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
    4y

    I have had the same.........get it ready for the next tenant. Some things are just part of the business.

    1Reply
  • Rob Nappi
    Investor · Santa Rosa, CA · Member since 2018 · 59 posts · 18 votes
    4y

    I’m an out of state investor in Indy. I had a fire and homicide before even getting the place rehabbed for renting. I get it. Insurance paid out. I sold it. 
    Then new opportunity knocked. 
    I have a connection to VA programs and many many other government programs.

    1/1 units get $860 a month 2 year lease

    2/1 units get $1120 mo. 2 year lease

    3/1 units get $1360 mo. 2 year lease 

    Rents Rates are increasing in December by $55.
    Property management is provided by the company that has these contracts. 

    17 Thousand people on a list for placement. Almost never a lapse in rents unless that tenant leaves. Then repair to get rent ready again. 
    45 days to place a tenant after repairs are complete inspection is done. 

    I recommend you reach out to your property manager unless you are self managing. Then like the other comment said, get it rent ready for the next. 

    Reach out if you are interested in any other info. 
    good luck! 

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  • Bill B.
    Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
    4y

    Ouch! A $55 increase for 2 years? 2.5% per year increase? Bail if you can. These days a 10% increase PER YEAR is the low end of “normal”. You should be getting at least $110 the first year and $120 the 2nd year. You’re going to be $180 under market, have a couple thousand less in your pocket, and tenants who are shocked when you start asking for market rent. 

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  • Rob Nappi
    Investor · Santa Rosa, CA · Member since 2018 · 59 posts · 18 votes
    4y

    If I put $85k down financed 250k and I’m making after all expenses $36k a year net that is bad? 

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  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
    4y

    @Brandon P. everyone thinks DIY management is easy --- until it isn't.

    These occurances are common in Class C (and even B) markets.

    Roll with the punches, hire a PMC or sell.

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    4y
    Quote from @Brandon P.:

    Is the Tenant communicating with you? I would tell her that someone broke in and you can't keep the place secure. If she wants any of her remaining belongings, she has five days to remove them or you will consider them abandoned and haul it to the landfill. 

    I bet dollars to bagels she left that stuff behind because she doesn't intend to keep it. Walk through and take pictures to document what she left. It's probably broken furniture, dishes, disposable razors and tampons, a stained mattress, a framed poster with an out-of-context Bible verse intended to make the Tenant feel like she's a winner, etc. It's junk she didn't want to move, so she left it behind for you to deal with. If that's the case, haul it to the landfill. Send her a bill for the unpaid rent and moving/landfill costs, get the place turned around, and move on.


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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    4y
    Quote from @Rob Nappi:

    If I put $85k down financed 250k and I’m making after all expenses $36k a year net that is bad? 


     bad ??  unheard of yup..  

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  • Brandon P.Pro Member
    OP
    Investor · Paradise, CA · Member since 2015 · 102 posts · 15 votes
    4y

    @Nathan G I think you are right. She has not replied. Is there a way to put her in collection for non rent payment and or the vandalism? she problem left stuff outside. This was a B class rental area

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    4y
    Quote from @Brandon P.:

    @Nathan G I think you are right. She has not replied. Is there a way to put her in collection for non rent payment and or the vandalism? she problem left stuff outside. This was a B class rental area


     Document everything then take it to a collection agency. Send me a PM and I'll share contact info for who I use.

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  • Bob Willis
    Investor · Curtis, NE · Member since 2019 · 231 posts · 140 votes
    4y

    Do you have an abandonment clause in your lease? If not, you should. 

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  • Mike D'ArrigoPro Member
    Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
    4y

    @Brandon P.Unfortunatley, this is a risk of owning rental properties. Where in Indianapolis is it? It's possible that it's just a function of the class of neighborhood and you might continue to have the problem. It's a problem inherant with lower asset classes. The biggest mistake OOS investors make is not knowing the neighborhoods and buying in the wrong area. Any other mistake you might make or anything that might go wrong, you can over come. You can't move a house. If you want to message me the address I'll take a look and give you my thoughts on the area.

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  • Pam Brown
    Real Estate Agent · Indianapolis IN · Member since 2022 · 144 posts · 65 votes
    4y
    Quote from @Brandon P.:

    I had a tenant partially move out and the place has been broken into and vandalize she has not paid the last months rent what are my options?


     Hi Brandon.  Sorry to hear that---but it is not shocking!  Time to head to eviction court for non payment of rent...

    I've been a RE Broker in Indy for 20 years.  Please send me a DM with the address.  Like Mike said in his reply, I'd like to know where it is and if we agree that it's a B area.  This stuff can happen in any area for sure.  Just as we can luck out and also get really nice tenants in the lower class areas.  Good luck and don't let it get you down :-)

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