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Updated over 10 years ago on . Most recent reply

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135
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4
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Keith A.
  • Real Estate Investor
  • Ft. Lauderdale, FL
4
Votes |
135
Posts

Security Deposit and Unknown Address

Keith A.
  • Real Estate Investor
  • Ft. Lauderdale, FL
Posted

What would be the protocol if a tenant abandons the property and the final rent owed and damages exceed the security deposit?  No address was given to send any notices to.

Most Popular Reply

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2,406
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Michele Fischer
  • Rental Property Investor
  • Seattle, WA
1,108
Votes |
2,406
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Michele Fischer
  • Rental Property Investor
  • Seattle, WA
Replied

Send the information to the rental address.  They either put in an address change with the post office, or it will be delivered to your property, but you have done your due diligence to communicate the issue to the tenant.  We normally give them two months to contact us and start making payments, and then we turn it in to a collections agency.  The collections agency will need all the related paperwork.  We have not yet had any funds recovered, but at least it shows up on their credit report to warn future landlords, they will get hounded by the agency (who has better tools to find people), and maybe encourage them to resolve it even years into the future.

  • Michele Fischer
  • Podcast Guest on Show #79
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