Multi-Family and Apartment Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 4 years ago,
Inherited nonpaying tenants again
Hi, BPers
I posted something about inherited tenants a while ago and got a lot of help from you experienced MF landlords here. For that, thank you all! I am about to close on another deal and have a similar issue and would like to hear your valuable inputs again:
While we are closing at the end of this week, I just got an email from the seller saying that prorated rents only include two of the four units that are currently paying. This is a little surprising, because by the end of last year, there were still 3 tenants in the fourplex who were paying. Now, my questions are:
1. Since the closing is in the middle of the month, could I take actions to the non-paying tenants immediately (posting notice, talking to them regarding rents, etc..) or I need to wait till the 5th day of the next month.
2. One of the nonpaying tenants is disabled veteran. Are there any specific things that I need to pay attention to when dealing with him? He left me with pretty bad first impression: he took 20 minutes showing me how horrible everything in the house went wrong during the inspection (In fact, he lives in a nice brick fourplex with garage and 3 bedrooms that was built after 2000). I feel quite certain that I probably will need to get him out of the unit soon.
3. Do you guys make a list of supporting programs related to COVID and send to your tenants? If so, what are main programs out there that I shouldn't miss?
4. If I have to evict someone, this will be my first eviction as a landlord. What are main steps and key points that I need to keep in mind, especially during COVID? I will definitely search information on local websites, but trying to get some useful information here first as I am new.
Many thanks in advance!
Lee