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Updated almost 9 years ago on . Most recent reply

User Stats

17
Posts
7
Votes
Daniel Gibson
  • Investor
  • Saint Louis, MO
7
Votes |
17
Posts

Weekly Rental Evictions

Daniel Gibson
  • Investor
  • Saint Louis, MO
Posted

Hello All,

My partner and I just closed on a 3 property deal that we are very excited about. The 3 properties are operated legally as "rooming houses" or weekly rentals. We did our due diligence and closed a couple weeks ago. So far, the transition has been relatively smooth but I do have one question that I hope someone has experience with. 

Are weekly rental evictions easier to manage than normal monthly lease evictions? I have our attorney checking into it with the state and county but we are curious if it is treated more like a hotel in the sense that we can move tenant's stuff out for non payment? All of the furnishings are ours so really each tenant just has their personal belongings. 

Any thoughts or feedback would be great!

Thanks,

Dan

Most Popular Reply

User Stats

17
Posts
7
Votes
Daniel Gibson
  • Investor
  • Saint Louis, MO
7
Votes |
17
Posts
Daniel Gibson
  • Investor
  • Saint Louis, MO
Replied

UPDATE:

I spoke with a couple different attorneys and here is the conclusion we came to on evictions for weekly rentals: in our lease we have a line item that states "You have the option to put down an extra security deposit of $400, if tenant declines, tenant then agrees to abide by our state's Innkeeper laws on removal from premises." This allows us to act like a hotel vs a normal monthly rental and we can change the locks the day a tenant does not pay.

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