All Forum Posts by: Dev Agrawal

Rent recovery is pre-eviction. We have become good at it, by simply issue a 3 day letter to pay rent or quit. Usually this triggers eviction. Time remains of essence, we file eviction within 7 days of no payment. Most tenants with inability to pay abandon the place sometimes during eviction process either before or after judgement but usually before Marshall's show up. 

Most credit collection agencies are limited to sending demand letter for an initial fee of $200 to $240. The demand letter does not go anywhere except in tenant's junk box or undelivered mail. Collection agencies cannot report to credit bureau if the  landlord is a private landlord. I think property managers can. Collection agency turnover the case to attorneys rarely only when judgement is large and landlord is willing to pay heavy attorney fee, which can start at around $3000 for filing garnishment but even that doesn't go anywhere without a valid address of the tenant.

First of several portfolios consisting of 6 townhomes in South Atlanta. All units rented for average 2 years, most have 2 months security deposit, rent payment history (not ledger, actual transaction history) will be provided. Rent range from 1550 to 1800 with average of 1700. No distress or differed maintenance. All maintenance records available. Most units have upgraded laminate flooring and fixtures and hardware. Almost all are in HOA with very low HOA fee ranging from $40 to $70 per month. Retail pricing. Can buy entire portfolio or individual unit. Portfolios curated over last four years, most meet close to 1% rule. Self sustaining portfolio being managed from far away for last few years including during Covid. Ideal for landlords and wannabe landlords. Not ideal for wholesalers, rehabbers, flippers, vultures.

(1) File FiFa with the courts

(2) Find assets (car etc.) to file lien. File lien if you find assets. 

(3) File wage and bank garnishment if you have bank account number and current employer. 

(4) In most cases it is impossible to find current whereabouts of the tenant to serve any papers (garnishment papers)

(5) We have started asking for car insurance cards to get information on the car, the only asset most tenants posses.

(6) We have not been able to find new address of any of the evicted tenants. Nor any skip trace agency who will guarantee correct address. 

(7) We have not been able to find any collection agencies that take case of a private landlord to collect on contingency basis. A couple of decades ago a collection agency collected judgement and never paid a penny to us and you couldn't possibly collect from collection agencies.

(8) No attorney takes a collection case, unless it exceeds $10,000 and multiple collections. Usually you have to pay for the privilege of getting a return phone call from an attorney.

(9) We have over 30,000 of uncollected judgements on six cases and like the LA fires, try to forget about getting back what you had, move on and take precautions never to get into that situation again. We have 720 phone calls and six months of vacancy trying to find one tenant that would submit, bank statement, car insurance card and paystub that is not fake.

None of the above has worked for us except to try to forget the judgement.