dionwisn 0 Report post Posted May 29, 2010 Hey guys I need your help. Though this may be a landlording issue I thought I'd ask anyway. What strategy would you folks take in getting last months rent from a tenant whos not exercising their option?I have a tenant whos leaving soon, not sure if its this monday or friday but who may try and run. They know their option money is nonrefundable, which made them angry. So im thinking to get back at me theyre going to run next week. This would leave me owing the homeowner which i dont want to do that. Whats the best way to minimize my loss here? Share this post Link to post Share on other sites
Jonathan RexfordFL 8 Report post Posted May 29, 2010 Dion, This is just part of the business. You cannot squeeze blood from a turnip. If they run you can try to collect with small claims. You can call them and find out what their intentions are. I would be more afraid of what the condition of the home is than I am the rent. Things have away of getting damaged when they run. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted May 29, 2010 Dion, like Rex said, this is a business reality sometimes. If they aren't planning on paying, then there isn't much you can do about it. Which is why it is always imperative that you collect enough consideration upfront. Share this post Link to post Share on other sites
<Steve> 82 Report post Posted May 29, 2010 Dion-Since they are on their way out you may want to try and befriend them so the property is left in the best condition possible. You let them know you understand their situation of not buying and needing to move. You may want to do a walk-thru to see the condition of the property and let them know your expectations are that the property is to be left in broom clean condition and keys returned. Share this post Link to post Share on other sites
dionwisn 0 Report post Posted May 29, 2010 Will do! They've already expressed compliance to leaving the place as is. I also let them know that if things do go wrong the owner of the home wont be to happy ,and left it at that. I'll keep you folks posted over the coming weeks so you can see how it transpired. Share this post Link to post Share on other sites
gthinvest 0 Report post Posted November 18, 2010 Hey D-Lee, I was going through old posts and dug this up. How did it go with the tenants? Did they leave the property in good shape? Was there much if any repairs to do? Apreciate the update, Nate Share this post Link to post Share on other sites
