All Forum Posts by: Quincy Lockett

@Peter Stevenson

I would start the eviction process ASAP. But even if they do show up with “emotional support animal” proof, I would NOT renew their lease. These are untrustworthy tenants.

@Austin Smith

I suspect that the problem is the state laws of New Jersey AND the type of rentals you own. I too live and own in one of the most difficult states to secure an eviction - Illinois (Cook County). What I’ve found is that it’s not worth it to own anything less than B class rentals in Illinois. Every other class is a crap shoot.

I would sell everything less than B and move that cash to either B plus assets in New Jersey or move it to C assets in a more tenant friendly state. I also own C class property Indiana and because it’s a more pragmatic state, when a tenant is served a 10 day notice they RESPECT what it means (fast eviction process). Making it easier to remove non-paying tenants. Meanwhile the same notice served in Illinois is used as food seasoning.

@Winter Heintz

I wouldn’t be concerned about a potential renter not following through. In my experience, when a tenant is interested you will KNOW! If they are not following through it’s because of 1 thing. They are NOT as interested as you thought they were or that they portended to be. Sometimes the unit shows better online than in person. Sometimes the tenant doesn’t like YOU, the area etc. Regardless, it doesn’t matter. You only want renters that WANT to live there. They stay longer and respect the relationship.

@Tobi Ayanleke

You were too lenient with her. Her communication was way too lacking if she is sincere. She owes you, not the other way around. You have to establish control early to set the expectations. I would start the eviction process according to your state laws immediately. And I believe based on her behavior that she will be a problem tenant until May 2023. In the future, CONFIRM sources of income. You can’t take a stranger’s word on these things.

@Toby Shacalo

Most investors are a waste of time. If you want a quicker response:

1)Be pre-approved for the loan amount you seek to spend.

2)Have proof of funds to close.

3)KNOW your purchase criteria and have boots on the ground ready to deploy.

4)Contact the agent REPRESENTING the property you want to purchase and sign a buyer’s agreement with them. That way they know they’ll get double commission and might be more enthusiastic on getting you to close.

@Jay Hinrichs

Losers:

Section 8 tenants. HUD's Fair Market Values that are updated annually have not kept pace with recent market rent hikes. The gap is so vast at around 20% (at least in Illinois & Indiana) that it's not worth it onboarding those tenants. It's a better bet to take a chance on market rate tenants (The pool is richer even in the C class category). I have no idea where those voucher holders go because they lose them if they're not utilized after a certain period.

@Lisa Connor

I concur with @Adam Martin

For a person to be evicted (at least in Illinois), not only did they not pay but they also REFUSED to leave over a period of non-payment for 2 to 3 Months or MORE in some cases! During this whole period the landlord is paying court fees, property taxes, attorneys, utilities and repairs.

That is a VERY disturbing personality flaw that we literally can’t afford to chance.

@Kris Mead

Just an aside. The fact that the tenants just leave rather than hunkering down and not paying until you get an eviction order of possession is a BLESSING in a D class location. It could have been a lot worse. Trust me!

@Angela Persico

I’ve done it with 1 tenant in 21 years and it works! I get an electronic message from the bank instantly.

@Angela Persico

Find a bank convenient to her and open a checking account. Have her deposit a money order and deduct the expense from her rent for the money order. There is NO excuse for her not making the payment at this point. If she balks, and you really can’t file eviction for non-payment until next year, You will have to wait her out until next year and be grateful you get anything from her. But I would not arouse her ire if I have to deal with her until next year. Handle her with soft gloves until you can evict or not renew her lease.