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All Forum Posts by: Christopher B.

Christopher B. has started 3 posts and replied 11 times.

Post: Rent Collection Agency

Christopher B.Posted
  • Fremont, CA
  • Posts 11
  • Votes 0
Quote from @Michelle B.:
Craig S. I recently went thru a very similar situation, except I had to follow through with an actual eviction. I received a judgment for a couple thousand dollars. One of the tenants had long-term employment with a very large, local hospital network. Given the long-tenured employment we proceeded with wage garnishment. It cost $100 (which gets tacked on to the judgment) and we are now getting regular payments. I see many landlords immediately reply with - move on and cut your losses. In some cases that makes the most sense. But not in every case....you just need to look at the entire scenario. If there is a good chance you can collect the judgment then do it. If not, don't waste your time and just move on. Good luck!

 @Michelle B.  Where/ how were you able to get the wage garnishment completed?

Best bet might be regional banks. Rural area can make it a little more difficult. Does it qualify as Ranch or Farm land? If Ranch or Farm, you should be able to go to the national banks.

Wondering if anyone has experience with this company or not.

https://www.peterjamescorporat...

They recently reached out to me as I have been searching for private money. Wondering if anyone has experience with them?

@Jesse Hinaman

How much equity needs to be in the properties?

Is the 2.99 good for loans over $1M?

Originally posted by @Account Closed:
Originally posted by @Christopher B.:

Hi BP community,

I am a new landlord, I purchased a property in 2015 with a tenant paying way below market rent.  When I purchased I advised the tenant that it is my intent to occupy the property after the lease expires.  Per California code, I gave the tenant a 60 day notice, and a 30 day notice.  The lease expires in 11 days.  Yesterday (12 days till lease expiration) the tenant informed me that their new apartment/ condo won't be available for them to live in starting June 17.  17 days after lease expiration.  I have been taking a big loss on the property for 6+ months. 

Is there anyway legal way I can increase the rent on the tenant for those 17 days to something like what Air BnB rates are going for in the area -~$100 a night?

I see that California law generally requires 30 day notice if increasing under 10%. 60 days if over 10%.  My tenant sprung this on me with 12 days left.  An Eviction will take time and I might not collect anything.  Tenant's Current average daily rate is around $42.  Market is about $60 based on 30 day month.   My intent is to occupy the property. 

Please help!

-In California

 Hi Christopher,

Since the notice has been given, the lease is ending.  You can enter into a brand new rental agreement and charge whatever you want.  So, if you're willing to let them stay until June 17th, you could write up something like this:

Dear Tenant:

Your current lease ends May 31st.  You have been given the legally required notice of 60 days to vacate on that date.

You have requested to be allowed to live in the unit until June 17th.  I have enclosed a new rental agreement for you to sign that would begin June 1st and end June 17th.  It specifies that you agree that for every day that you are in the unit beginning June 1st, you will pay $_________ per day. 

If you are in the unit beyond June 17th, you agree that you will pay $_________ per day for every day you are still in the unit beyond June 17th.  You also agree that you will be in violation of this new rental agreement, and that eviction proceedings will begin June 18th, 2016.

If you do not agree to sign this new rental agreement, then the termination date of May 31st stands, and you must vacate by May 31st or face eviction proceedings.

If you decide to sign the new rental agreement, you must sign it and deliver it to me by __________________ in person at _________________________ during the hours of ____________________ (or whatever will work for you).  

Sincerely,

You

Also, you need to IMMEDIATELY, give them notice of their right to an initial inspection.  Do this now and do it correctly, or they will have to right to get all of their deposit back, even if they leave the place trashed.

See the blue section:

http://www.dca.ca.gov/publications/landlordbook/se...

Buy this book:

http://www.nolo.com/products/the-california-landlo...

Enjoy your new home!

 Very useful!  Thanks for all the help Sue!

Originally posted by @Jim Sun:

Hi Chris,

Let me see if I can Help.  1) Did you read the whole lease with your agent when you bought the property?  2) When the lease was written up correctly, there should be a line in the contract stating the new rent payment if it is extended.  Did you see it anywhere?  3) I take it you did not have an agreement with the tenent before you close escrow?  (Might be you can see if your buyer's agent can help you out too). 

You will not need an eviction notice.  It is the tenant's responsibility to move out, because his/her lease is expired.  Tenant has no right to stay at your place after the lease expired, because it is our home as of June 1.  Tenant's living arrangement after expired lease should not be your problem.  You have given your 60 notice already, and tenant give you no respond, so they have to move to B&B, Hotel, Motel, Resident Inn, etc.... Their stuff can go to storage for 30 days.  You also did not take a big loss, because you are aware of the lease before you bought the property, so don't get mad at your tenant.  Play nice and work things out calmly - good deeds will come around your way in the future.

On the other hand, you can play nice, and offer Tenant to pay for your rent not their rent if tenant what to stay.  Now you don't need 30 days notice.  But what if tenant still stay after 17 days?  I won't hold my breath on that.  If I am your caring  tenant, I will asked nicely so I don't have to move right away, and I will be more then willing to pay any rent that is reasonable even if it is a bit higher.  If not, I will beware of what you have to deal with (games maybe?).  From this point on, everything in writing (email is best).  My final suggestion: 30 days only or they move.  Where are you going to find something for 17 days??? If you can find it, send the offer to your tenant.  I hope this help.  Best of luck to you.  Have a great weekend!

 Hi Jim,

I assumed the lease agreement that was in existence when I purchased.   I'm definitely not mad at the tenant for the monthly loss that I am incurring.  It was all part of the purchase, and a big reason why I was able to purchase this property.

I think I have a solution as I was unsure how to handle the security deposit laws if I were to write up a new lease agreement etc.  You are right in that my tenant did ask for the extension, it was just very short notice.  

Thanks for all the help

Originally posted by @Corina Eufinger:

Check CA law to see if it allows you to charge double rent for emery day the tenant occupies beyond lease expiration. It won't necessarily get them out for sure. It can be rather amazing how quickly some tenants get moving when they hear something like that though.

 I don't see any law that offers that type of language.  Would be nice though, but I could see where it could be abused as well.

Are there any work-arounds if the tenant agreed to pay a higher rent for that period of time?