New acquired house with tenants not paying rent.

[Tram Nguyen]

We just bought our first rental house through roofstock with tenants in it. Lease is until November 2021. Before we bought, papers showed that tenants paid the last four month until Jan. However, one month after closing we figured out they stoped paying rent after Jan. It’s really hurting as this is our first deal ever. We don’t know what to do now rather then wait until eviction moratorium ends. We’re thinking about acquiring more properties, but don’t know how to make sure that tenants are up with rent and we’re not jumping in a trap. Please advise!

[Drew Sygit]

Your PMC should be able to share with you their well-thoughout plan to address this issue! 

The PMC is supposed to be the experts, but too often turn-key providers like Roofstock hire the cheapest PMC's instead of the best - all to make their ROI numbers they pitch to investors look better.