All Forum Posts by: Zoe Lee

I just learned that she is still in school, and hasn't started repayment yet. Can this be a time bomb? When she graduates, I suppose her monthly payment will have a big jump.

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Originally posted by @Eric H.:

@Zoe Lee Greetings,

The applicant might be in an 'income based repayment plan' which is why the monthly payment is as low as you see it. Student loan debt is a crisis in the US right now so I expect to see many more applicants in the same situation in the near future. If the applicant meets your criteria otherwise, go for it.

I wish you the best!! Let us know how you make out.

Thank you Eric!

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We are looking at an applicant with massive loans (130k student loan and it's a low paying major). The "estimated monthly payment" listed on the credit report is however less than 1k.

Is this estimate accurate? Or I'm reading this wrong?

Other than this everything else looks good (of course low credit score). Stable family, good rent payment history, good landlord reference.

Any feedback would be appreciated.

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Originally posted by @Theresa Harris:

Originally posted by @Zoe Lee:

On a different front, what can you do when the tenants are perpetually late, but eventually pay up without paying the late fee? Should the due day be moved to a later day so everyone is happy? Or this is shooting ourselves in the foot?

Why would you do that? they'd just pay it late again. You can talk to them about when their payday is. Some times it is easier for them to pay twice a month rather than once a month. If they are late EVERY month, they can't afford the house and I wouldn't renew the lease once it is up.

Two installments sound like a good idea. Thanks!

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Originally posted by @Tchaka Owen:

Originally posted by @Ronald Rohde:

Zoe,

Weve spoken before about all your legal issues. This will continue to happen until you sit down and review all your paperwork and understand what you're signing. I think you're being taken advantage of in this situation.

Zoe,

If this is accurate, it appears you are getting legal advice and ignoring it. I predict a lot of pain (financial and otherwise) until you heed it. Quite frankly, you don't even have to come to BP to know this scenario is messed up. Best advice right now:

1. listen to the advice of an attorney on BP who seems to know what he's talking about.

2. read #1 again.

I beleive Ronald referred to my previous PM. We have already filed a complaint to our local court.

This is a new PM after we fired the previous one.

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Originally posted by @Serena Xiao:

Hi, I have a SFR in Mansfield, TX close to Fort Worth. I am looking for recommendations for good property management company in the area. I'd appreciate your referral.

Also can anyone who have used Oneprop or Westrom share with me your experiences, i have seen people recommending these two PMs? Thanks!

Hi Serena, did you find a good PM? We are looking for one in fort worth area as well. Wonder if you could recommend one?

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Originally posted by @Dan H.:

Originally posted by @Zoe Lee:

Originally posted by @Wayne Brooks:

Well, that is Not how late fees are supposed to work! While most PM’s Do keep late fees, as it is more work for them, they Only keep the late fee when the late fee is actuall,paid, in addition to rent....not simply subtracted from the owner’s money. And yes $250 is outrageous, and likely violates state law.

I agree. I've talked to them on phone a few times, they kept saying that the accounting issue keeps them from reversing the late fees. Not sure what I can do. I emailed them multiple times as well.

There is no way I would tolerate this because they have not collected the late fee. How can they charge you for the late fee they have not collected? They are basically having you pay the late fees. Is there any other way to look at this? If they fail to collect the late fee, they do not get to keep the non-existent late fee. The reason that they charge for the late fee is that it is work for them to collect it. Where is the work if they fail to collect the late fee?

You need to not accept this BS. It is also BS about accounting issues. Accounting allows them to pay all sorts of other unexpected expenses (not saying this should be unexpected with this policy).

Mot blaming the victim (curious), but ... Why was this not noticed the first month that you failed to collect full rent?

Good luck

Dan, there are multiple units, all with different rents, plus maintenance expenses. So I didn't take notice. I did mention they suppress the late fee on the statement right? Of course I wasn't being good at math either.

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All Forum Posts by: Zoe Lee

Zoe Lee has started 20 posts and replied 151 times.

Post: tenant with massive loans

Post: tenant with massive loans

Post: tenant with massive loans

Post: tenant with massive loans

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Post: staggering late fee of rent charged by PM

Post: staggering late fee of rent charged by PM

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Post: DFW property manager recommendation

Post: staggering late fee of rent charged by PM