General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 5 years ago,
squatters in purchased rental SE Texas
Purchased a quadplex in the Beaumont Area of SE Texas. One of the 4 units is rented as a boarding room style with two guys staying in the same unit. These guys have not paid anything since we purchased and apparently didn't pay much to the previous owner.
All that and the icing on the cake?? One of the tenants rented the vacant unit to another guy and is pocketing the rent?!
OK, It sounds terrible, though I am sure I have a way of getting them out safely (and cheaper) by just offering a few hundred dollars as cash for keys. But my real question is this, If it actually comes to legally removing them from the property, what are the laws and regulations here n Texas? These tenants were friends/family of the previous owner. They never had lease agreements and seldom paid any rent from what I understand. (you may be asking... Why did you buy the darn thing? Well, for $1500 dollars in the owners pocket and taking over a $12k back tax burden, I have a quadplex that the BPO just came back at $125k while making small monthly payments to the county for 3 months, then my lender will cash out refi at 80% of BPO) Is this a clear case of squatting/trespassing and just call local authorities, or is there a certain procedure to follow? I am sure that these are state specific so my fellow Texan investors, would really like to hear your experience
Thank you, This is our first MF rental and we have two more quadplexes to finish before end of summer along with duplex so we are in need of crash course in dealing with renters.