My entire 4-plex just went delinquent at the SAME TIME

[Kyle Krason]

Hi everyone.

So, I've had my 4-plex for about 8 months now and had no issues with collecting rent  for the first 6 months.. Then.. One tenant started to pay a little bit late because of some issues she was going through financially.. But then suddenly, in July... ALL 4 TENANTS went delinquent.. paying more than 3 weeks late the last two months.

Has this ever happened to anyone else? What should I do? This is my first ever investment and I'm looking for some advice.

Thank you

[Alexander Felice]

5 days late, process to eviction begins.

for reinstatement to happen, tenant must pay all late rents, and any fees associated with eviction process.

you should be just about ready to have 4 new tenants if they are all 3 weeks late.

With that said, if you didn't follow the rules on the lease and let them slide, why would you expect them to?

Expect what you Accept.