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All Forum Posts by: Jason Warner

Jason Warner has started 1 posts and replied 5 times.

Post: Renters bailing

Jason WarnerPosted
  • Involved In Real Estate
  • Franklin, IN
  • Posts 5
  • Votes 0

Thanks Zachary. Just an update on the situation. Notice to pay or quit served today. I am still on good terms with the remaining renter. His family is willing to help him financially for at least a brief period, possibly through the end of the lease. However, we all agree that we need to get the wife off of the lease, and sign a month to month with him. How is this process accomplished? At this point I may need to seek legal counsel. I just don't want her to have future legal recourse against me.

Post: Renters bailing

Jason WarnerPosted
  • Involved In Real Estate
  • Franklin, IN
  • Posts 5
  • Votes 0

John T. you echo my sentiment. They really have been outstanding in their care for the place, and I hate to see them go. The problem is neither can afford it on their own, and we all three know it. Like you said bad things do happen to good people. I guess my biggest fear is kicking him while he's down and him lashing out in anger at his situation (taking frustration out on the house). I really don't suspect this to be the case, but you never know. I guess that is the risk we take. My goal is to provide an extraordinarily good value for my tenant as well as be a gracious landlord, but I know I must protect myself, family, and property in the process.

I will post updates through this process, and maybe there are fellow lurkers out there who can learn something from my ordeal. Thanks again.

Post: Renters bailing

Jason WarnerPosted
  • Involved In Real Estate
  • Franklin, IN
  • Posts 5
  • Votes 0

Thanks again Jon. This makes total sense and agrees with my gut feeling. I have been doing some research and it appears that partial payment is an option to buy him some time. I just have to document it correctly to prevent him from trying to argue that I agreed to reduced rent for the entire month.

Post: Renters bailing

Jason WarnerPosted
  • Involved In Real Estate
  • Franklin, IN
  • Posts 5
  • Votes 0

Thank you all. I do agree for my own sake I should pursue the eviction process. I will be sending a pay or quit tomorrow. The problem now is either way I am in effect allowing them to live there utilizing the deposit in lieu of rent. So I might as well present it to him that they are paying via deposit money, and I will pursue no further legal action as long as they leave in thirty days and the house is not damaged.

I am absolutely positive he can not make the rent on his own income, nor am I interested in having him there trying. The husband and wife made equal amounts and neither can afford to float it on their own. The rent was due last Friday and I received the call this morning. When I called Friday the wife said they would pay by today with the penalty. He says there is no way he can pay and will be out in 30 days.

My instinct was to pursue the normal eviction process. I just wanted confirmation. Thanks again for the backup.

Post: Renters bailing

Jason WarnerPosted
  • Involved In Real Estate
  • Franklin, IN
  • Posts 5
  • Votes 0

I am new to the rental business and need some advice. I have been a long time lurker, but have never posted. I have learned much from the members here and respect your opinions.

I have some renters who are splitting up and seeking divorce. Neither one can afford the rental on there own, and have been upfront about their situation. This has all unfolded in the past 24 hours so they contacted me right away. The wife is moving out as I type, and the husband has asked that I use their deposit and allow him to stay until the funds are exhausted. I believe I can trust him to keep the home in good shape, and not trash it when they leave. The rent was due a few days ago, but the husband needs to have money to put down on a new place, thus the request.

My main concerns are: Do I need to file for eviction to protect myself from a legal standpoint? What type of written documentation do I need if I do not file for eviction? What have/would you do if faced with a similar situation?

To this point they have taken immaculate care of the place, and it looks nicer than most of the owner occupied homes in the area. I have no reason to believe he will renege on his end of the deal. He was concerned about having a bad report and not being able to find a new place. I am concerned that he may have trouble finding a place and not leave when the time comes. I am meeting in person with him tomorrow. Thanks in advance for your advice.

Jason