Do you have standard collection procedures (late letter and fees, lock out enforcement, lien law notification etc)?

First check your state laws regarding security deposits.If we have a tenant that trashes a property, we cannot just automatically forfeit their security deposit and we have 30 days to send the tenants an itemized list of charges against their deposit.In Texas if an owner does not follow proper procedure even though the tenant trashed the property, the tenant can go back after the owner for triple the security deposit plus attorney fees and court costs.If you accidentally did not follow your state laws, I would immediately refund the total deposit.If you followed your state laws, then you should have at least contractor invoices for the work done to justify the expenses against her security deposit.

Get the license now, you'll learn some basics, along with laws, reg.s and procedures.

The process included one eviction, a procedure RCA is well versed in, taking roughly 2.5 months in Connecticut.The value-add process resulted in a ~60% increase in NOI from ~$74K at purchase to ~$118K on a run-rate basis after 7 months.

@Stephen Akindona -I don't know what the procedure is in Memphis.

I originally got into real estate to have passive income while going through dental school, then I bought a small multifamily while laying on the beach and never looked back!

When you ask about tax liens/certificates/deeds you need to specify the state, as all procedures/laws are different.

Because of this, our customer support team is not as familiar as it could be with policy procedures pertaining to how to handle these situations, and I apologize for the way it was handled yesterday.

I'm planning on majoring in Marketing and completing classes to apply to dental school.

Do we have rules, policies, and procedures?