Pompano Beach, FL · Member since 2017 · 1 post · 0 votes
Hello!
My tenant moved out without paying the last month and a half of rent. I know I have 30 days to sent a certified letter stating everything he owes/what I am removing from his security deposit, however I keep seeing conflicting responses on how long I can wait to actually sue for the additional monies he owes. Due to other issues, I would like to hold off at least until after August- some people say as long as you've sent the letter, you can wait a few years if needed, where others say just 30 days.
Royal Oak, MI · Member since 2015 · 257 posts · 230 votes
9y
You really need to look up, read, and understand your local state laws as it varies state to state. You should do that asap as once you are beyond a certain point, there's no looking back and you could be on the hook for 2x or 3x damages.
You must learn your state landlord tenant regulations before you start your business. Had you done that you would have began the process of collecting the day after the rent was owed.
It is not probably too late now but defiantly time for you to learn your business as opposed to seeking help after the fact. Good luck.
Minneapolis, MN · Member since 2013 · 2k+ posts · 1k+ votes
9y
Do it as soon as you can what ya got to lose.. Just get that security deposit statement of tenants out within the proper time period for your state or you'll owe them..
Real Estate Investor · Lincoln, NE · Member since 2013 · 584 posts · 353 votes
9y
Agree with @Jay Hinrichs Waste of time. You can't get blood from a turnip. Even if you get a judgement you likely won't get any money. Unfortunately this is often just a cost of doing business. Your time will be better spent getting a new, better tenant in the unit.
If you find out you are still able to claim you should file immediately. You can not collect if you do not file. Collection is very possible depending on the tenant. Assuming when you screened for ability to pay and your ability to collect when they do not pay you have a good chance of getting your money.
Rental Property Investor · Austin, TX · Member since 2016 · 1k+ posts · 1k+ votes
9y
@Dyani L Washburn I am definitely more in the "collection is a waste of time" camp but it does depend on the caliber of tenant we're dealing with. For a lower end unit where the person had little to no income, no assets, and no concern for their credit health it's almost always a losing battle. For someone who does have income, assets, and potentially wants their credit intact for future purchases (like buying a house...) your chances of success are higher.
In my state the security deposit has to be dispositioned in no more than 21 or 30 days (depending on the situation) but we have as long as 6 years to file a small claims action.
Investor · New York City, NY · Member since 2015 · 388 posts · 563 votes
9y
Skip it, pass, never mind that. The couple of hours spent researching, filing, mailing, etc., along with associated fees will get you nothing. You'd be better off catsitting, dogsitting, babysitting, with those few hours. At least you'd make $50 and provide a service. Or mow someone's lawn.
Better yet, go buy some LED bulbs and install them in common areas- replace incandescents, halogen, or fluorescents. You'll save some dough on your utility bill. There, that was helpful! Have a nice weekend.
Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
9y
Remember a lawsuit will just result in a judgement if you win. The same judgement you get when you evict.
But what good does a judgement do? I have $1m+ in judgements I'd bet. Wanna buy them? $.10 on the dollar