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Updated over 9 years ago on . Most recent reply

User Stats

58
Posts
1
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David Mitro
  • Investor
  • Langhorne, PA
1
Votes |
58
Posts

How would you handle this situation?

David Mitro
  • Investor
  • Langhorne, PA
Posted

I have a quadplex under contract that I am due to sell in late July. One of my tenants is behind on rent. Her rent is $850 per month and she has only paid me $291 for June, nothing for July. Every date she tells me she will have money by, comes and goes with nothing. Her phone is disconnected so I have no way of contacting her except for email. She informed my maintenance guy who lives at the property and collects the rent, that she will be moving out so that she doesn't fall even more behind. She hasn't told me this. I do have last month's rent and security deposit for her. The only notice I sent her was a Notice to Quit on 6/21/16. The timeframe given was, "immediately." No amount of days was given.

Obviously, the sale is all that is important to me. Otherwise, I would have started eviction over a month ago. At this point, what is the best way to insure this sale closes, and closes on schedule? The buyer is using VA financing and plans to live in another unit.

How would you handle this situation at this point?

Most Popular Reply

User Stats

63
Posts
18
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Bruce Ellerd
  • Investor
  • Albuquerque, NM
18
Votes |
63
Posts
Bruce Ellerd
  • Investor
  • Albuquerque, NM
Replied

@David Mitro My understanding of what you're saying is that you're worried that she will stress about having another room vacant and back out of the purchase. I think if you talk to her through her agent and let her know that one of the tenants isn't working out and that you need to evict that tenant before the sale finishes. Let her know that you'll assist in reoccupying the room and that could be her first experience (with assistance) of the rental process so that she hopefully won't make mistakes in the future with poor choices of tenants. 

She may, and should, see this is a great opportunity so she doesn't stress out and worry about losing a tenant and knows what to do to replace tenants in the future. 

I'm in the same process, buying my first quadplex with two open units and buying through VA financing. I see it as a learning experience and am gearing up to find me some good tenants :).

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