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I had a tenant who moved out with no notice a month before the lease expired. $1,000 per month rent, and only $250 deposite. He has refused to pay me for the last month rent, money that I lost because it took longer then that to advertise and find a new tenant.
Can I put his failure to pay on his credit report? I could not find any information on how to do this on the credit reporting websites.
I had a tenant who moved out with no notice a month before the lease expired. $1,000 per month rent, and only $250 deposite. He has refused to pay me for the last month rent, money that I lost because it took longer then that to advertise and find a new tenant.
Can I put his failure to pay on his credit report? I could not find any information on how to do this on the credit reporting websites.
Absolutely, in California. Check with your state and local gov in your state. Lots of info online. Be sure you know the laws about this and you do it right or you could be held liable.
Absolutely, in California. Check with your state and local gov in your state. Lots of info online. Be sure you know the laws about this and you do it right or you could be held liable.
I have checked my State website and can find nothing pertaining to this, or how to go about it.
In looking at the credit reporting sites it appears they are limited to reporting on credit issues, and/or legal judgements. So I would probably have to get a court to make a legal judgement against the tenant before I can report it to one of the credit sites.
Rental debts get on credit reports 3 ways...through an eviction record, a collection agency, or a small claims judgement. Since you're a private landlord and not a company, you probably can't get a collection agency to take the debt, so I'd take them to court. That will then be put on their credit report and perhaps it will also help kick them in the butt and make them pay. Don't forget to ask for attorney's fees and court costs. You'll be entitled to them too.
Yes you can I had a check bounce from my bank account because Walgreens Pharmacy ran a check of mine through their system 4 times in the amount of 126.00 (504.00) for prescriptions which caused my rent check to bounce I paid my rent two days later in full and even though I was able to prove and explain what happen that late payment is still on my credit report 5 years later.
I had a tenant who moved out with no notice a month before the lease expired. $1,000 per month rent, and only $250 deposite. He has refused to pay me for the last month rent, money that I lost because it took longer then that to advertise and find a new tenant.
Can I put his failure to pay on his credit report? I could not find any information on how to do this on the credit reporting websites.
Why such a small deposit?
Anyway, when you take him to court and are awarded a judgment against him, it will go on his credit report and will remain there for at least 10 yrs or so.
With your next tenant, make sure to get the max deposit your state allows.
Rental debts get on credit reports 3 ways...through an eviction record, a collection agency, or a small claims judgement. Since you're a private landlord and not a company, you probably can't get a collection agency to take the debt, so I'd take them to court. That will then be put on their credit report and perhaps it will also help kick them in the butt and make them pay. Don't forget to ask for attorney's fees and court costs. You'll be entitled to them too.
Also if the tenant who gets a judgment against them ever wins the lottery any judgment will be paid off first...you never know. It maybe a long shot but lots of people who are on welfare and/or don't have much money spend money on lottery tickets....
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