How to minimize the risk of unpaid rent ?
Hi we have been managing 15 + rental properties (SFR) and been to eviction courts numerous times, but have never been successful to collect unpaid rents.
I understand following ways exist to collect unpaid rents.
1. Get a court judgement to garnish from the (ex) tenants salary, if the tenants is employed by someone. - I have not been to a municipal court to file a small claim. Is this realistic ???
2. To put a language in the lease agreement to bind the tenants to pay the outstanding rents and/or repair cost to put the property back to the condition as same as the time of move in.
I am well aware that Choosing a "performing" tenant is a key component to maximize ROI. In the meantime, I appreciate anyone's advice on how to minimize the loss (unpaid rent/unrecovered repair cost).
Thanks !