Rentals in Military>Question Details

benjity, Home Owner in Buffalo, NY

We have renters right now who until November have been wonderful. He is retired military so in theory, he should have consistent income and be able to

Asked by benjity, Buffalo, NY Tue Jan 29, 2013

We have renters right now who until November have been wonderful. He is retired military so in theory, he should have consistent income and be able to pay. However, in November, they were late - didn't pay until Dec. 5, when they did pay December on time. Now, they have missed January's payment, with promises week-to-week. They failed to pay on Friday, and have not promised to pay January and Feb. by Feb. 12. I don't know whether to be generous and hopeful or if I"m being foolish.
My property manager continues to accept their promises? She has not told me about the late payments until about the 20th of the month when they have failed to pay - when I call and ask about the payment.
We would still prefer to sell and be rid of the home, but stand to lose money.
he is retired military and I do know that the VA has been troublesome for on-time payments - notoriously.

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You need to speak with the tenant directly and find out why they are not paying the rent. I am finding it curious that the property manager you presumably hired to collect rent is not sharing this important information with you on a timely basis. Call the tenant first and find out. Then consider getting some advice from an attorney. Your lease needs to be reviewed and the lawyer can advise a prudent course of action.

Best wishes,
1 vote Thank Flag Link Tue Jan 29, 2013
Consider reviewing the lease with your attorney; then go from there...also see link for possible helpful information. http://www.ag.ny.gov/sites/default/files/pdfs/publications/T…
0 votes Thank Flag Link Wed Jan 30, 2013
Benity,

I am not only a Realtor, but also a property manager and an investment property owner.

This is a really tough position and you need to keep focused upon YOU. Assuming the tenants signed a lease, they are legally obligated to perorm.

Keep your eye on this.

Your tenants appear to be out of contract....start eviction proceedings immediately. This is your life and they may drag you on forever.

gail@GladstoneGroupRealty.com
631-425-6150
0 votes Thank Flag Link Tue Jan 29, 2013
If you plan to sell the home I'd be glad to help! I can even give you a free market analysis of the home so you have the information you need to make a decision. If you have any questions or would like to set that up, give me a call at (716) 499-3567 or email me at thimes@realtyusa.com
0 votes Thank Flag Link Tue Jan 29, 2013
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