Just curious what system other investors are using with respect to their eviction timeline…
I’ve had a few evictions with my current system and am wondering if I am being unreasonable or not.
Here is the current system that I’m using:
The rent is due on the 1st. A late fee is not charged until the 6th. The manager posts the late notice on the home’s front door on the 6th that denotes the current balance with the late fee. The late fee is 12% of the monthly lot rent.(there is no maximum late fee in this state) A 5 day eviction filing notice is posted on the resident’s door on the 10th of the month. Manager door knocks on the 15th. Eviction paperwork/fee is sent to court house on the 17th. Police officer serves official court notice on the 24th.
The thought behind the system is that the resident should have had 2 pay periods by the 16th. If they blew the 1st paycheck at the bar, horse races, casino, fill in the blank… they still have 1 more to save their home. Also, they have already used 1/2 of the product that I’ve given without paying for it.