All Forum Posts by: James Syed

Updated 6 unit apartment building, completely updated in 2017 & 2018 (see pictures), each unit is 2 bedroom 1 bath, each unit is rented for $680 a month, cap rate 8.84%, GRM is 6.11. There's large parking lot in the back. Brand new / newer flooring, Anderson windows, appliances, utilities, too many updates to list. Annual rental income $48,960. Agent owned.

Hello,

What state are you in? In a Illinois, you can’t just change locks and call it off. If she doesn’t response to 5 day notice, you have to file for forcible entry detainer. 

If she has abondand the property, you will need to go back to your lease agreement. 

Also, it’s very important to use a server for all notices because it’s not considered served unless they actually received it. 

Hope it helps. 

Hello BP Members, 

I am not familiar with SC landlord tenant law. 

Here is in Illinois, it is strongly recommended by most attorneys to use a server to serve any notices including 5 day notice. 

Hope it helps somewhat. 

Also, my take away home lesson is “don’t pay anyone up front, but afterwards. Unless this legit business has been there for a long time and you have enough references. Good luck.

Pedro L. Welcome to BP. Have they provided you receipts of damage repairs and proof funds / cancelled checks that were used to take care of those damages? If not, you are head of the game. Hope it helps.

In my opinion, Judge has to follow the law the same way it is written. 

In addition, I didn’t state that NSF, late payments and other fees can’t be recovered, but I stated that you can’t deduct from “rents”. In other, words, you have to file a separate motion / send a notice. 

@Kimberly H.

It’s a very comprehensive document that covers variety of landlord tenant issues. I am unable practice any laws as real estate broker  so I have 3 attorneys that I use for various real estate issues. 

I recently had the same issue with a tenant who didn’t pay any late fees or NSF fees so I contacted one of my attorneys specializing in forcible entry detainer law,  who advised me that we can’t collect any fees out of rental payment. 

Hope it helps. 

@Kimberly H. 

My source of information is Illinois landlord tenant law. 

Welcome to BP. 

@George Skidis is 100% correct here and has the best answer. It explains excellently. 

@Shannon Gauthier In Illinois, you can’t deduct any late OR NSF fees from rent payment. They have to be filed as a lawsuit in order to recover them. 

Hope it helps. 

@Shannon Gauthier

Welcome to BP. 

Your tenants are correct unfortunately. You can't force the tenants to pay late fees during 5 day process. It would have to be separate motion. Judge will throw any late fees, NSF and other fees during eviction process. 

I had just sent a colleague request to you. You are welcome to contact / call me. 

Good luck.