Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 18 years ago, 02/07/2007

User Stats

7
Posts
0
Votes
N/A N/A
0
Votes |
7
Posts

Tenant negotiations / re-negotiations? (long)

N/A N/A
Posted

I'm new here so forgive me if this has been covered.

I have a house I rent to 2 tenants. Before I rented to them it was full of college kids that trashed the place and wondered why I took the security deposit. :shock:

Anyway, when I ran the credit for these guys it was pretty bad. 500's. So I was apprehensive about renting to them until the lead guy said that he could pay 6 months up front and an additional 6 months after. I thought "yeah right". But the guy gave me a check for the 6 months and moved in right away. They called me a couple of times for minor things and I took care of them immediately. They have taken care of the palce and it seems fairly clean. I haven't heard from them for months. (that's good)

Now, in late December I sent them a letter telling them that I'd like for them to send the net 6 month check a little sooner than February 1 (ideally 2 weeks) because that's how long it took to clear my bank.

I got no response from the letter. I called one of the guys and he tells me that they don't like this 6 month deal as they are working on "investments" but that they are willing to "honor" the contract ad continue to make payments monthly.

I told them that I'd review the contract (only to keep from loosing my temper)

I later called back (had to leave a message)and explained that after reviewing the contract, they were obligated to the full 6 month payment but that in an effort to be reasonable, I'd re-negotiate with them and only require 3 months now and 3 months later.

Once again I heard nothing from them.

I called again today and the guy tells me that he had some of "his people" look at the contract and that it might be illegal to demand all 6 months, etc... All complete B.S. Anyway, I told him that I'd talk to the lead guy and try and resolve this matter. I called him and he was "busy" Still hasn't called me back and his "voicemail box is full".

I explained earlier to the first guy that if they were in anticipatory breach that I could start the eviction process right away and force them out and still have my contractually obligated damages for the 6 months as agreed.

So, here's my question: I've read that I should be a hard *** with tenants but am I being unreasonable? I don't think I am but I'd like to get other, more experienced opinions.

After dealing with this kind of crap I think I may be looking to sell and do other types of investments.

Loading replies...