One of our tenant has always been paying rent on time with out any issues until this month. We contacted the tenant and mentioned that a friend was shot/robbed in front of our property. I don't want to be insensitive to what happen but what do we do about the rent? Also, anything we need to do on our end?
@Cuong Le just because something unfortunate happened to your tenant's friend doesn't mean the rent isn't still due.
I understand not wanting to be insensitive, but what does the tenant's friend getting shot have to do with the tenant paying rent? That's what I would ask him.
I've had a tenant get robbed of her purse/cash once right before the rent was due, and - after I verified that it actually happened (it did) - I waived the late fee that month.
I would also ask the tenant to explain the circumtances surrounding the shooting/robbery to see if there was anything they were doing, or about the property itself, that attracted any undue attention from the suspect or that could be changed to prevent another similar incident for happening.
Thanks .@Kyle J. and @Dawn Anastasi . Normally, if the tenant had a history of being late and was difficult to work with, we would have no problem but this one has always paid early and keeps the place clean.
Tenant said the person was random and now is afraid to go back to the house due to safety. Like the idea of waiving the late fee this time but will need to get the rent today.
Since property is ok, there is nothing else we need to do. If they leave due to the shooting, then at least we have 60 days to get the place ready to rent out again.
A shooting can happen anywhere. Perhaps it was a random event?
I mostly agree with @Dawn Anastasi about the rent being due. That being said, I would want to do some due diligence on this. Get the police report, see if there is anything that is known but not being disclosed to you. Hopefully not a problem, but I think it's worth a few minutes to find out.
This is an unpleasant reminder of tenants who claimed a break-in a few days before their rent was due, a few years ago. They were always good tenants, always paid on time. Then they said there was a break in and their rent money was stolen. Hmmm...who keeps $900 in cash in the house, when they'd always paid by direct deposit?
Anyway, I asked for a police report, never got it, they never caught up, and eventually stopped paying and were evicted. Turns out the wife had lost her job months ago.
Ask your tenant how this unfortunate incident is preventing him/her from paying the rent. See if they are behind on the utility bills. There may be a lot more to the story.
There is a police report but police won't release it until they've completed their investigation. From what tenant's story, it seems like a random act. We've talked to the neighbors before and they all said it has always been a quiet neighborhood. Tenant has been keeping an open communication so it looks like we're going to resolve it this week. Thanks @Aly L and @Eric M. as well for your input and suggestions.
Any one else have any similar story and what you did about it?
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing