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Updated almost 4 years ago on . Most recent reply

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Joshua McGowan
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5
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Eviction Moratorium: Too risky to "rock the boat"???

Joshua McGowan
Posted

Bottom line up front:  

1)  What have your experiences been with processing evictions during COVID?  (Assuming that your eviction is in a case that should not be prohibited by the text of any applicable laws and moratoriums).  As I know that these things play out differently depending on locality, the closer you are to my jurisdiction the better: Yardley, PA 19067

2)  If you give tenant notice to vacate after the lease naturally ends, and they refuse to vacate, do you use an eviction to get them out or is this a separate legal action?  i.e. are they now legally trespassers, rather than non-paying tenants?

3)  When do folks expect eviction courts to return to "normal"?

My situation:

I purchased a duplex this past Spring that was a bit run down and severely under market rent.  The place is in a B++ area and the inherited tenants are faithfully paying their rent.  The inherited rent rates cover the hard operating expenses plus a little bit of cash that gets set aside for future maintenance/capex reserves, but no profit and not as much set aside for reserves as I'd like.

The plan was always to give the inherited tenants reasonable notice to vacate (they are on month to month leases), renovate the units, and rent back out at market rate.  After doing so, I should be able to cover all my expenses, set a more comfortable amount of money aside for reserves, and take a healthy monthly profit from the rental income.

However, I have delayed turning over the units because I'm nervous to rock the boat with the tenants in the current climate with eviction moratoriums and, from what I'm reading, delinquent courts in many areas even when evictions should be legal under the moratorium guidelines.  Am I being too cautious?  I'm missing out on over $1k per month by not turning the units over, and the property is not an attractive investment to me as the cashflow currently stands.  I definitely don't want to hold the property as-is indefinitely.  At the same time, it would take most of my savings to keep the property afloat without rent for a year, so I don't want to get into a situation where I have a non-paying tenant and no recourse for the foreseeable future.

Would greatly appreciate hearing whatever relevant experiences and/or advice you have to offer.

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