I purchased a condo in October of last year, head a lot of issues on getting information from the seller but because my time limit was almost up on my 1031 exchange so I went through with the deal. A few days before closing I found out that the perfect tenant was getting evicted. Now the tenant is behind a month again because her check bounced. I have a Property Management company handling everything. The property manager collected 150.00 and gave the tenant three day notice with a promise she would pay the balance last Friday of course that did not happen.He collected a 100.00 more yesterday and he keeps telling me give her a few days. I have been in this situation so many times and I learned the longer I wait the more money I loose. Should I be patient and take the advise of the Property Manager or start the eviction process.
Kick her out. And get a new manager.
When you accept late or partial payments, you can create a situation where the tenant can argue that you waived your right to demand them. Your manager should not be collecting partial payments. Plus, it then delays the eviction.
What you could do is write up a settlement agreement for the tenant saying you will agree not to press charges or sue her for writing a check without sufficient funds, if she is gone by the weekend and leaves the place clean (or some version of that). And print this out and give it to her:
You can sue her for three times the amount of the bad check, etc. She obviously knew there weren't enough funds in her account, if she only handed over a couple hundred dollars.
You might want to offer to meet her with her deposit in cash, too, on move-out day, and will hand it over if the place is empty and clean. Get her to sign the agreement.
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