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Updated over 5 years ago on . Most recent reply

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25
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Josh Fernandez
  • Rental Property Investor
  • Greenville, SC
4
Votes |
25
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Eviction criteria and process

Josh Fernandez
  • Rental Property Investor
  • Greenville, SC
Posted

How long should I wait before posting an eviction notice? I would love to hear other real estate investors processes. And learn something.

Most Popular Reply

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Aidan Mulligan
  • Rental Property Investor
  • Charlotte, NC
178
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161
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Aidan Mulligan
  • Rental Property Investor
  • Charlotte, NC
Replied

@Josh Fernandez


A few schools of thought that I've seen. 1) The day they miss their payment serve a notice. The reason being is that people usually have about 10 days (depending on where you are) to resolve before you can take the next step. If you wait a week then serve, that'll be 17 days after they missed their payment before the process really starts. 2) Talk to the tenant and see what's going on. If it's a good reason and verifiable, their car engine just gave out, their parent just died etc. create a payment plan. As soon as they miss their payment plan, serve the notice. 3) Case by case, if they're consistently 5 days late but they pay every month then it might not be an issue. Might even be worth it to wait the extra few days if a late fee is applicable (per your laws) and you get to collect a few more dollars every month. 

Depends on your patience, time, and risk tolerance.

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