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Updated about 7 years ago,
Thoughts on an unheard of rent situation
I have read a ton about owning income property and I am always reading more. I bought my first SFR out of state last year and things are going well. I am vocal with the people around me about my passion for real estate investing. Because of that I was approached by someone who was in a very unique situation. It was unimaginable to me. I researched the issue and couldn’t find any answers because it’s just unheard of. So I wanted to check with you smart people.
What are the tenants responsibilities when a landlord stops cashing rent checks? That’s right, since the the beginning of the year property owner hasn’t cashed a single check.
The owner is elderly and is in failing health. Can his family demand the back rent? Can the family evict based on failure to pay?
I’d love to hear thoughts on the issue.
Daniel