What will the law require landlords to do for their squatters?

[Daniel Smyth]

When does a non-paying tenant become a squatter?

Do you know the rights of squatters in your state and county?

In some areas, squatters have a vast list of rights that could cost the property owner a great deal.
It's getting pretty warm now. The law dictates in most areas, that the squatter is entitled to everything they had while they paid rent, or when they were a week=end guest, before they decided to stay the last 2 months.

This means, that if your A/C broke, you must get it running at your expense. If you paid for gas and electric, phone or cable, that too will have to continue to be paid for. Every perk the squatter had before he became a squatter, is his "RIGHT" in some areas.

I have no tenants that are not paying on time. However, I wonder about what to do when and if this happens.

I make my money from the lease payments. I repair and add value to my properties because of the lease payments. My ability to continue to get loans, is directly tied to these lease payments.
How on Earth would I be expected to buy a new HVAC system when there is no money coming in?

We are not there yet, I know. However, it's this time that I am using to learn of those who are struggling, and to prepare for what else may happen. I mean, I was one step away from buying 3 single family homes in February, to renovate and lease in march. I am SO glad that one of my lenders asked me to wait a month. At that time, I had no real ideas or prospects to carry me over such an issue that we face today. I missed the bullet, but am preparing for the next shoe to drop.

To me, THIS is where that shoe drops. I can see the courts so backed up, that your tenants could live the year or more without payment. the kicker, is that to protect your investment, you will STILL need to do maintenance.

I wonder, if the law that allows a tenant to live for free, would charge me for failure to keep certain provisions like heat, air, cable, water, sewer and more in place when my funds say no!

Something to think about!