All Forum Posts by: Matt Ransom

My tenant just texted that she would like to hook up the nxstage dialysis machine to our washer. It is apparently a new device. She said there is no drilling on the walls or pipes. Has anyone ever had any experience with something like this? Will I be held medically liable if our "older" washer fails at some point? Any advice is appreciated. 

Finding the time to stay educated on the business while holding my 9-5 and raising a family. 

 I am right there with you. I am paying down the mortgage while saving enough for tax time to roll around. 

Every winter we send a letter detailing our expectation for things tenants should do to take care of the pipes, etc. during the winter months. We remind them of their responsibility should a preventable issue arise, which is stated in the lease. 

 Its funny...for the first year, they were on time every time. This second year has been a doozy for them. But I have stayed on top of them and kept up with everything and stayed in communication with them about late/ administrative fees and they have paid them all. It feels like we are holding the tenants by their ankle and shaking the money out of their pockets every month. But the effort has paid off and we have made more money from the fees. I prefer it to be smoother, so we are going to offer Cozy to them. 

 I plan on using Cozy for online payments. 

 I have offered this as a payment option through Cozy but tenants decided mail was still fine. I think this last episode has piqued their interest in online payments. They have asked me if it is still available.

Here is how everything went down.

1) Money Order lost by USPS (tenant produced a receipt and I called to verify it was legit)

2) Tenant calls about re-issue but MoneyGram requires 30 days before a re-issue(??)

3) Contacted Post Office- no luck

4) Money Order showed up (tagged with USPS "return to sender" tracking stamp) and whole month late

- Tenant has paid all late/ administrative fees for everything. 

5) Deposited money order

6) Came back returned because a "Stop Payment" was issued. $10.00 fee assessed to us. 

7) I just contacted the tenant about the issue, telling them to call MoneyGram.

My question: What do I do next?

I am in a similar position as you....new landlord whose tenants were great the first year but are consistently late in the second year. I plan on continuing to rent to them as they stay in relatively good contact and have always paid late fees and administrative fees (more $$ for me). 

I have actually sent 2 "pay rent or quit" notices (May and July) to them, but they always came through and paid everything very close to the deadline. I just have decide if I renew for a year or month-to-month. But, again, only because of the communication and their paying all fees. If any of this changes, I plan on not renewing. They have 2.5 months left in current contract.

So...the tenant told me that they are with their father who is in the hospital in another city. I've driven by the property a couple of times and their car has not been there (so, this seems true). They also, said that they got a hardship loan from their 401(k) to get back on track with rent.

They have been late 5 of the past 9 months and I asked him what led to this hardship because, looking at their net income, they can afford the rent with ease. 

He told me that his wife has medical bills for MS, $5600 for meds and $505 for the infusion/ monthly.

This is news to me...and if this is all true, this would cripple their ability to pay rent. 

I am trying to figure out what my response should be. I want to show understanding but also make sure I maintain the pressure to get the money in.