Investor · Cary, NC · Member since 2015 · 79 posts · 34 votes
11y
How long has the tenant been there? What has the payment history been before being laid off?
Not to be heartless, but at this point it doesn't look good. I would assume this person isn't eligible for unemployment compensation. Therefore I would start the eviction process. This is a business. You need to protect your investment.
- Yes, as I always say you have to manage from your head and not your heart. If you have a mortgage, you can't tell the lender that your tenant hasn't paid because of the reasons outlined.
You need to start the eviction process sooner rather than later and stop digging yourself deeper into financial loss.
Lender · Nationwide Lender · Member since 2015 · 1k+ posts · 814 votes
11y
@Johnny Khoury Did you serve late payment notice last month and this month? When you go for eviction, you will need to show this.
I would get started with the eviction process right away. I have had a tenant like this and it is only going to get worst. You are better of with no rent coming in rather then the hassle of dealing with a dead beat tenant.
Investor · Newburgh, NY · Member since 2016 · 34 posts · 28 votes
10y
@Johnny Khoury I went through something similar to this. One thing I have learned is find lawyer that only (mostly) does evictions. Tenants are tricky.....they will try every thing they can to extend their stay and undermine your property, and set you up for failure.
By hiring this person you can ensure that they know the temperament of Judges, court schedules and can assist you through it all.
Rental Property Investor · Danbury, CT · Member since 2014 · 43 posts · 22 votes
10y
Don't accept any more partial payments. This could be held against you in court. It's seen as an agreement to accept a lower rent and you can't claim non-payment of rent.