Slow Rental Market?

Soon_2B_Rich profile photo

Is it just me, or is any one else having a difficult time finding professional desirable tenants. It seems that the era of low interest rates lead to more owners then renters. THoughts?

Comments(2)

  • bgrossnickle14th November, 2005

    I believe that contacting her employer for financial information is in violation of the Federal Fair Collections Act (or some such thing). Believe it is quite serious.

    You are between a rock and a hard spot. I have been there many times. Wish I could get enough security deposit to pay for the time spent evicting and the cost of eviction - but most people do not have that kind fo money for a security deposit. So ahead and start the eviction process (in FL we give a 3 day notice) so that if she does not move out you will be ready continue with the eviction.

  • smithj214th November, 2005

    This is a difficult one. I have read in numerous places that as LL, one must be tough and follow the letter of the lease.

    However, I personally believe that I do not want to have a tenant that does not want to be in the property. The potential damage they could cause is much more than whatever rent they would pay to stick to their lease.

    I would try to get her to pay something towards this months rent. Tell her that you would love to use the security deposit, but that you can’t do that due to laws restricting the use. You need the months rent and would be willing to waive late fees if she could at least show some consideration (maybe half … etc.). This way, you still have some sort of cushion for any damage she might cause when she moves.

    It is not a good idea to apply deposit to rent while a tenant is still in the unit because that leaves you no recourse when they move out.

    Please note that this is just my opinion and that I am also trying to learn all I can about this Landlord business as well.

    Good Luck.
    JS

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