I’m closing on a 40 unit park this Friday. Nearby, I have apartments where I charge late fees on the 6th, and file eviction on the 11th.
Should I give TOH residents longer than the 11th before filing eviction? How long do you give them?
Your guide lines should be defined in your state landlord tenant regulations not by individual landlords. Unless it is otherwise state you follow the same time frame as for any tenants, apartments, SFHs, parks, they should all be treated by exactly the same standards.
The fact that a individual may own the home is irrelevant in regards to their responsibility to pay ret on time. The notice to pay or quit is issue the day after rent is due, late fees apply as outlined in your state codes and evictions should be clearly defined time wise in the codes. If not you begin the process immediately when rent is not paid on time.
I disagree with Greg. This is not dictated by state law. Of course, you have to be in compliance with state law, but we like to have some flexibility. Our eviction decision is based on our understanding of the tenant situation. Many times, we understand that a tenant cannot fully pay, but can partially pay. In that case, we may make a payment plan.
If a tenant is living in a home that is dilapidated, ceilings are caving in, and it must be demolished, for example, I would rather take a partial payment than evict given that after eviction, I will have to spend $3,000 to remove the dilapidated home and have no source of revenue after its removal. When a tenant is seriously delinquent, we try to have a conversation with them. If they have a “good story” we may work with them. If they say something more like “we just lost our job and have no immediate prospects and cannot pay $1” then we file eviction faster than a fly lands on horse sh#t. Our goal is to maximize revenue, and we understand that sometimes it is better to evict a tenant in 60 days than it is to evict them today. For example, if my remodel crew is fully booked for 60 days, then why evict to let a partially productive unit go fallow?
The process and time lines are determined by your state landlord tenant regulations, when to give notice, timelines allowed for tenants to cure or vacate etc. The treatment of every tenant must be the same/consistent across all tenants other wise, legally, tenants may claim favoritism or prejudice. It is important to follow consistent/standardised practices in all situations. Rent is due on the 1st, late on the 2nd, pay or quit issued on the 2nd, tenant has X days to pay in full. Regulations then determine when rent is not paid as to the timing of the notice to evict.
Yes landlords may choose to treat each tenant individually however legal this does place them on thin ice if challenged. It is wiser to have fixed and consistent business standards established that treats every tenant equally.
No good deed ever goes unpunished. Best business practice is to remain strictly professional.
Ours is pretty straight forward. Due on 1st, Late fee applied on the 5th, 3 day notice on the 6th, File on the 10th.
Now if we are contacted with a satisfactory pay date we will wait to the day after that date to file. Regardless, everyone not paid will receive a 3 day notice regardless. Also we will not agree to a payment arrangement after the 15th.
We allow 3 lates per year. The 4th time we terminate the rental agreement. This rarely happens.
We have 220 lots and almost all are POHs.
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