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Updated almost 4 years ago on . Most recent reply

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22
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Hisashi N.
  • Investor
  • Johns Creek, GA
2
Votes |
22
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how to collect unpaid rent after tenants moved out ?

Hisashi N.
  • Investor
  • Johns Creek, GA
Posted

We have handful rental properties and manage them by ourselves. We have filed eviction to local county court numerous times and tenants moved out. However, we have  never been able to collect unpaid rents (typical amounts few thousand dollars, 2- 3 months worth of rent). What is the realistic way of collecting unpaid rent, even partially ? Using a collection company, filing a claim to munincipal court ??

I have asked this questions to local REIA members, but no solid answer was provided... Do landlords simply give up ???

Most Popular Reply

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367
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Jeff G.
  • Investor
  • Wethersfield, CT
189
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367
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Jeff G.
  • Investor
  • Wethersfield, CT
Replied

You already have the eviction, so that's good. The next thing you need to do is take that eviction and use it as the basis to obtain a judgment against the tenant for the unpaid rent and any property damage their deposit didn't cover when they moved out.

Once you have a judgment you're in a better position because they collect interest and, unlike most other debt, are renewable. This means you go after the tenant for the money long after most other debt would expire due to the statue of limitations.

Take the judgment to a collection agency: Google for "Judgment Recovery" to find one. They'll be able to move forward with additional collection attempts and, with that judgment, do things like levy bank accounts and garnish wages to get you your money back.

Collection agencies make money by taking a cut from whatever they collect.

  • Jeff G.
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