Every landlord at some point is going to face an eviction. It’s inevitable in real estate. The best way to avoid an eviction is to stay on top of your collections and be prompt in serving your Three Day Notices. You want to be consistent as well. If you always serve your Three Day Notices on the same day after rent is due, you’ll avoid a lot of problems. Tenants (and people with money problems) pay whoever is the loudest. As the landlord, you want to be the loudest and the first in line.
Consistency is important for financial as well as legal reasons. If you have one person who is a good tenant and she comes to you to ask for more time to pay the rent, it’s a good idea to work with that tenant. These are business decisions you make on a case by case basis. If it’s an isolated incident, you should certainly try to be accommodating. However, if that same tenant seems to have another problem the following month or two months later and it gets deeper and deeper into the month before your tenant pays, you can suffer big losses.
Remember that if you’re helping ONE tenant, you have to help ALL your tenants. If there’s another tenant who is abrasive and less pleasant about asking for more time, you can set yourself up for a discrimination lawsuit. So when it comes to evictions, be consistent and prompt.
Three Day Notices
Get your collection process started early in the delinquency. On the day rent is due, if it’s not paid, serve your Three Day Notice the next business day. This will help you avoid a lot of problems and it keeps your policy the same for everyone.
Serve the notice and follow all the steps properly. There are a number of legal landmines that will force you to start over and lose a lot of time. Get a good eviction attorney who specializes in unlawful detainers. Many of them know what they are doing and can guide you through the process.
And if you’re handing an eviction on your own, make sure you know EVERY step. You have to know all the legal requirements and why three days might not actually mean three days in all cases. Talk to a professional property manager if you don’t understand something.
We’d be more than happy to help you if your tenants aren’t paying rent. Contact us at LBPM for more information.