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I'm not sure why you released the belongings in storage (that you paid for) to the deadbeat tenant. I thought you could hang onto that as unclaimed property and sell it off. Of course, you have to give him the money, but first you deduct all that he owes you, including moving and storage. Though 4K seems excessive. Then again, I am not a lawyer.
It's sad to say, but often the naive landlord who just wanted some income from a property is the one who gets burned.
Might be worthwhile, and potentially even less expensive, to simply hire a property manager when you are ready to re-rent the place. A good management company would have identified this guy upfront and never rented to him. In fact, often guys like this will target properties that are being rented by owners because they know owners are more likely not to run full background and credit checks. So their chance of getting the unit is better.
I'm not sure why you released the belongings in storage (that you paid for) to the deadbeat tenant. I thought you could hang onto that as unclaimed property and sell it off. Of course, you have to give him the money, but first you deduct all that he owes you, including moving and storage. Though 4K seems excessive. Then again, I am not a lawyer.
It's sad to say, but often the naive landlord who just wanted some income from a property is the one who gets burned.
Nope, unfortunately, the bozo attorney my folks hired said its best to give deadbeat tenant the keys. Deadbeat tenant also kept calling me, threatening to sue because he was being deprived of some of his clothing and basic needs, by keeping his belongings in a storage area. Basically we got burned, by having to pay a crapload of money to the movers, and also for storage. Hope some mega karma/Bachi happens to this guy. According to his past history, he's divorced three different wives, and his son looks mentally challenged, because of the way his dad lives, moving from house to house by not paying rent and living this kind of life.
Might be worthwhile, and potentially even less expensive, to simply hire a property manager when you are ready to re-rent the place. A good management company would have identified this guy upfront and never rented to him. In fact, often guys like this will target properties that are being rented by owners because they know owners are more likely not to run full background and credit checks. So their chance of getting the unit is better.
Just something to consider next time.
I do recommend that, as I am in school and working, and hate it when I have to find potential tenants for my parents' house. So busy. I get jack for doing this work. My mom basically wants to "save money" by not hiring a manager, because they usually charge $200-$400 a month. Can't wait to grad, work, and leave home for good ........ this will definitely force my mom to hire a property manager.
I can't recommend a management company enough, and I've done it both ways.
At least she can write-off the fees from the management company.
At the very lease perform due diligence when renting, do a background and credit check. This seems like he should have been a huge red flag with a little checking.
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