Friday, April 07, 2006

The non-glamourous side of property management

(Click on the title for our video podcast on this subject. Be patient, it takes a few seconds to load!)

Thursday was a rough day. A rough day in the sense of we had to physically evict a tenant from a property.

Of course it does no good for our investors if we let tenants live in a property for free. So our typical office protocol is to give Tenant's until the 5th day of the month to pay their rent (rent is due on the 1st of each month). Then on the 6th day we send out late rent notices, on the 10th we make phone calls, and on the 12th-15th days of the month we file for a court eviction if the tenant has made no effort to make their rent payment. Our attorney has to file for the court-ordered rent & possession. Once you file, the tenant has approximately 2 weeks to pay their rent or prepare for court. On the actual court date, once we have the judgment we file a Sheriff's execution. The Sheriff then serves the Tenant with a 5-day notice that they must move out. The Tenant has 5 days to move out. In this case, the Tenant's had until Thursday morning at 9am to be out or the Sheriff would physically move them out to the street.

Sounds dramatic don't you think? Well it is and the Tenants that we had to evict on Thursday did not take us seriously. I think they were mostly lazy, because when we showed up on Thursday with the Sheriff, we went into the house and physically moved all of their stuff to the curb. By law, we have to let their stuff sit on the curb for 24 hours and then we can have it hauled off to the dump.

I admit that this isn't very glamourous, and I'm sure you'd agree. However, this is part of my job in managing rental properties for the investors I represent. This is what these investors pay me to do for them. Contact me, and I'll tell you all the details of what I charge to manage properties. I can be reached toll free at (800) 584-1297.

Also, check out our video podcasts. Right now we're discussing the 5 Biggest Mistakes investors make when purchasing rental property without the help of a Realtor. My web site is

Until next time...

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