Comments on: Can’t Evict if Always Late on Rent! http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/ We help new and seasoned real estate investors purchase and own investment property in Minnesota. Thu, 24 Jul 2008 14:46:55 +0000 http://wordpress.org/?v=2.2.2 By: BawldGuy Talking http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-442 BawldGuy Talking Fri, 04 Apr 2008 03:10:14 +0000 http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-442 Sorry to be late to the party. :) Tenants don't get to tell me how I run my property. They have given their word to do A as long as I keep doing B. I'm not their mother. It's been this sense of entitlement which has literally bankrupted many income property owners. Compassion? That's the landlord's choice. When we begin researching new (for us) regions, we always begin by applying our 'Santa Monica' test. If the local and/or state policies tend to be unfriendly towards business in general and tenants specifically -- we pass. In Santa Monica the local Marxists have legislated tenants into near partnership status. Prudent, experienced investors have been staying away in droves. :) When it's your property, you get to make the rules. Until then... Well, suffice to say a sense of entitlement is usually followed by a life of siphoning assets from those who made consistently better life decisions. And all under the guise of 'compassion'. Sorry to be late to the party. :)

Tenants don’t get to tell me how I run my property. They have given their word to do A as long as I keep doing B.

I’m not their mother. It’s been this sense of entitlement which has literally bankrupted many income property owners.

Compassion? That’s the landlord’s choice.

When we begin researching new (for us) regions, we always begin by applying our ‘Santa Monica’ test. If the local and/or state policies tend to be unfriendly towards business in general and tenants specifically — we pass.

In Santa Monica the local Marxists have legislated tenants into near partnership status. Prudent, experienced investors have been staying away in droves. :)

When it’s your property, you get to make the rules. Until then…

Well, suffice to say a sense of entitlement is usually followed by a life of siphoning assets from those who made consistently better life decisions. And all under the guise of ‘compassion’.

]]> By: Chris Lengquist http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-440 Chris Lengquist Thu, 03 Apr 2008 22:13:31 +0000 http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-440 I would also say that I have been patient to help people out when they come to me. But when I have to chase them it's completely different. Why do tenants believe the landlord should be a bank. The statement "you collect a nice little average of $50 extra a month" doesn't take into account any late fees the owner may have to pay to his mortgage company, does it? Many a landlord I know will work with tenants. But nowhere in a lease does it state cooperation all goes to the landlord. And yes, I think you would find most landlords have had tough months in their lives. But paying rent comes first to those that want to live indoors. Not the car payment. Not the credit cards or eating out or even the medical bills. Prioritize like everyone has to do. Shawna, this isn't a rant. It's just trying to get you to look at it from the landlords's point of view, too. Both landlords and tenants would be well served by staying in communication with each other. I would also say that I have been patient to help people out when they come to me. But when I have to chase them it’s completely different.

Why do tenants believe the landlord should be a bank. The statement “you collect a nice little average of $50 extra a month” doesn’t take into account any late fees the owner may have to pay to his mortgage company, does it?

Many a landlord I know will work with tenants. But nowhere in a lease does it state cooperation all goes to the landlord.

And yes, I think you would find most landlords have had tough months in their lives. But paying rent comes first to those that want to live indoors. Not the car payment. Not the credit cards or eating out or even the medical bills. Prioritize like everyone has to do.

Shawna, this isn’t a rant. It’s just trying to get you to look at it from the landlords’s point of view, too. Both landlords and tenants would be well served by staying in communication with each other.

]]> By: John Gall http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-439 John Gall Thu, 03 Apr 2008 22:04:52 +0000 http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-439 Shawna, I can tell you that twice in my new landlording adventure i've had to put in $500 here and there of my own money to cover the mortgage because my tennant pays late. Now she's always only two days or so and pays the late fee but because late isn't until the 5th and Eviction starts on the 15th i'm feeling pain even before she's late because I have to pay my mortgage on the first of the month regardless. If she gets to the 15th I have to start the process because now I'm probably paying my own money from the 1st of the month plus not likely to receive in time for the next payment. Keep in mind it's a business, we're not running shelters. On that note while that may sound cold I view my lease as a two way contract. I keep the place nice and in good repair, the tenant keeps their rent paid on time. I have always held up my end so I expect them to do the same. I don't pay my mortgage late when my tenant pays late so while we should be compassionate and flexible when possible you do need to stick to hard dates. Besides you can always call off the eviction if they pay but your better to get the process started should they decide not to. Shawna, I can tell you that twice in my new landlording adventure i’ve had to put in $500 here and there of my own money to cover the mortgage because my tennant pays late. Now she’s always only two days or so and pays the late fee but because late isn’t until the 5th and Eviction starts on the 15th i’m feeling pain even before she’s late because I have to pay my mortgage on the first of the month regardless. If she gets to the 15th I have to start the process because now I’m probably paying my own money from the 1st of the month plus not likely to receive in time for the next payment. Keep in mind it’s a business, we’re not running shelters.

On that note while that may sound cold I view my lease as a two way contract. I keep the place nice and in good repair, the tenant keeps their rent paid on time. I have always held up my end so I expect them to do the same. I don’t pay my mortgage late when my tenant pays late so while we should be compassionate and flexible when possible you do need to stick to hard dates. Besides you can always call off the eviction if they pay but your better to get the process started should they decide not to.

]]> By: Investment Property http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-438 Investment Property Thu, 03 Apr 2008 21:51:11 +0000 http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-438 Shawna- I don't necessarily agree with evicting someone that does pay every month (even if they are consistently late). I have had investors get upset at a tenant for something minor and then decide to evict them for late payment (after accepting late rent for years). This message is mostly a warning to them. I also do collect several hundred dollars extra each month from my tenants for late rent charges, so I don't mind! Alternatively, I disagree that we need to be more understanding. As landlords, we have mortgage payments, taxes, insurance, utilities and other bills to pay. Those vendors don't care if my tenants are late on their rent. I have been "understanding" with more than a few tenants over the years only to have several of them move out in the middle of the night and/or never pay me (leaving me owed $1000s). This is business and as such, landlords need to run it as a business. Shawna-
I don’t necessarily agree with evicting someone that does pay every month (even if they are consistently late). I have had investors get upset at a tenant for something minor and then decide to evict them for late payment (after accepting late rent for years). This message is mostly a warning to them.

I also do collect several hundred dollars extra each month from my tenants for late rent charges, so I don’t mind!

Alternatively, I disagree that we need to be more understanding. As landlords, we have mortgage payments, taxes, insurance, utilities and other bills to pay. Those vendors don’t care if my tenants are late on their rent.

I have been “understanding” with more than a few tenants over the years only to have several of them move out in the middle of the night and/or never pay me (leaving me owed $1000s). This is business and as such, landlords need to run it as a business.

]]> By: Shawna http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-437 Shawna Thu, 03 Apr 2008 21:36:58 +0000 http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-437 Wow I hope none of you are 10 days late on any of your bills. Sounds like the robbing Peter to pay Paul syndrome to me. If someone is consistently 10 days late you are still getting your rent every 30 days, sit down and shut up. Where is the compassion. At least your getting paid. If you have never had money trouble I hope for your sakes the people you owe are more understanding. I can't believe a landlord would evict a tenant for paying 10 days late for 2 years. Consistent monthly payment is obvious in that case and you know you will always be paid. Most landlords collect a nice little average of $50 extra a month. As long as it's all getting paid quit looking down your noses at people. Wow I hope none of you are 10 days late on any of your bills. Sounds like the robbing Peter to pay Paul syndrome to me. If someone is consistently 10 days late you are still getting your rent every 30 days, sit down and shut up. Where is the compassion. At least your getting paid. If you have never had money trouble I hope for your sakes the people you owe are more understanding. I can’t believe a landlord would evict a tenant for paying 10 days late for 2 years. Consistent monthly payment is obvious in that case and you know you will always be paid. Most landlords collect a nice little average of $50 extra a month. As long as it’s all getting paid quit looking down your noses at people.

]]> By: Baltimore Real Estate Investing Blog http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-367 Baltimore Real Estate Investing Blog Wed, 19 Mar 2008 05:17:05 +0000 http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-367 <strong>Landlording tips...</strong> Surfing the web lead me to Scott Ficek’s Minnesota Investment Real Estate Blog. He has a number of tips about landlording. He had an interesting post about a tenant that claimed that the rent was no longer due on the first because the landlord re... Landlording tips…

Surfing the web lead me to Scott Ficek’s Minnesota Investment Real Estate Blog. He has a number of tips about landlording. He had an interesting post about a tenant that claimed that the rent was no longer due on the first because the landlord re…

]]> By: boozwatt.com http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-166 boozwatt.com Mon, 07 Jan 2008 03:57:11 +0000 http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-166 <strong>The Carnival of Real Estate #72 - New Year's Edition...</strong> Welcome, readers and writers, to boozwatt.com and the 72nd Edition of the Carnival of Real Estate! We're proud to be hosting this Super Sized edition of the Carnival of Real Estate, and the very first of the new year. Due to the holidays, boozwatt.com... The Carnival of Real Estate #72 - New Year’s Edition…

Welcome, readers and writers, to boozwatt.com and the 72nd Edition of the Carnival of Real Estate! We’re proud to be hosting this Super Sized edition of the Carnival of Real Estate, and the very first of the new year. Due to the holidays, boozwatt.com…

]]> By: Carnival of Real Estate: By The Beach | The OC Coastal Real Estate Blog http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-142 Carnival of Real Estate: By The Beach | The OC Coastal Real Estate Blog Tue, 18 Dec 2007 23:30:08 +0000 http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-142 [...] suggestions on how to save for your down payment to buy property. and Finally, Scott Ficek presents Can’t Evict if Always Late on Rent! posted at Minnesota Investment Property Blog. Copyright © 2007The OC Coastal Group Garry Loss [...] […] suggestions on how to save for your down payment to buy property. and Finally, Scott Ficek presents Can’t Evict if Always Late on Rent! posted at Minnesota Investment Property Blog. Copyright © 2007The OC Coastal Group Garry Loss […]

]]> By: Scott Ficek http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-131 Scott Ficek Tue, 18 Dec 2007 04:02:52 +0000 http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-131 Very true! Very true!

]]> By: Chris Lengquist http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-130 Chris Lengquist Tue, 18 Dec 2007 04:01:25 +0000 http://www.minnesotainvestmentrealestate.com/owning-property/cant-evict-if-always-late-on-rent/#comment-130 ...or live in a jurisdiction that isn't so liberally friendly to tenants. I mean, if you set the rent to be due on the 10th I'll guarantee you that you won't see rent till the 20th. …or live in a jurisdiction that isn’t so liberally friendly to tenants. I mean, if you set the rent to be due on the 10th I’ll guarantee you that you won’t see rent till the 20th.

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