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 about 3 years ago, 11/09/2021
Tenant filed bankruptcy in TN
I wonder if anyone has experience with tenant bankruptcy issue. I have a tenant at TN who is behind on rent for the past 3 months. My PM has send multiple notices and finally put in the eviction notices. PM even offer to apply for tenant Covid assistant for any financial needs. I say PM did everything they can to help with this situation but recently found out tenant filed a bankruptcy. Now, I think that's just shady and screwed up. I am willing to figure out with tenant on options but this complicated the support for tenant. Anyone has any experience with this type of issue?
My PM think I am stuck for another 60-90 days. Since tenant filed bankruptcy, it reset the clock and tenant will continue to stay without paying rent for another 3 months and I am stuck with the mortgage. PM said tenant will need to appear at bankruptcy court in order to continue to stay. It's a tactic tenant is using to buy time. Is there really no way around this? Thanks all.