Comments for The Investors Housez - Your Calgary Real Estate Information Site http://www.investors.housez.ca Alberta Real Estate Investing, Landlord Tips and Information Sun, 05 Feb 2012 00:17:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on Collecting From Evicted Tenants by Newbie Landlord http://www.investors.housez.ca/blogroll/collecting-from-evicted-tenants/comment-page-1/#comment-35152 Newbie Landlord Sun, 05 Feb 2012 00:17:07 +0000 http://www.investors.housez.ca/?p=429#comment-35152 Question for you... if it's not written in the rental agreement a charge for NSF or late payments can I inform them of that today and start charging them as of today or a nearby date? Question for you… if it’s not written in the rental agreement a charge for NSF or late payments can I inform them of that today and start charging them as of today or a nearby date?
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]]> Comment on Collecting From Evicted Tenants by Newbie Landlord http://www.investors.housez.ca/blogroll/collecting-from-evicted-tenants/comment-page-1/#comment-35151 Newbie Landlord Sun, 05 Feb 2012 00:14:32 +0000 http://www.investors.housez.ca/?p=429#comment-35151 Bill thanks for your response. So guess what... I found a bit of a loop at the bank today I'm hoping it works out for me. So I have a cheque that they have put a stop payment on. Apparently... if I cash the cheque it goes through the system, uses up the 'stop payment' then has to be certified. Certifying it is a matter of going to their branch and having them pull the signature card or at another branch and they fax the signature card to to branch of your choice. The bank then certifies it and then I can watch the account and when there are funds available I can put the cheque through again. At least this is what I was told. And also based on that we bank and the same institution. So that may be a way for me to get the rent and then have them leave the place respectfully getting their damage deposit back at the final walk through, preferrably at eviction date or at the March 1 date. We'll see, I'll keep you posted. I do have tenant insurance on the property and if they vandalize before they leave at least I have that to fall back on. Keys and remotes are costly enough. Hopefully I can get my rent and then make them accountable for the state of the premises and returning all of the keys etc. Bill thanks for your response. So guess what… I found a bit of a loop at the bank today I’m hoping it works out for me. So I have a cheque that they have put a stop payment on. Apparently… if I cash the cheque it goes through the system, uses up the ‘stop payment’ then has to be certified. Certifying it is a matter of going to their branch and having them pull the signature card or at another branch and they fax the signature card to to branch of your choice. The bank then certifies it and then I can watch the account and when there are funds available I can put the cheque through again. At least this is what I was told. And also based on that we bank and the same institution. So that may be a way for me to get the rent and then have them leave the place respectfully getting their damage deposit back at the final walk through, preferrably at eviction date or at the March 1 date. We’ll see, I’ll keep you posted. I do have tenant insurance on the property and if they vandalize before they leave at least I have that to fall back on. Keys and remotes are costly enough. Hopefully I can get my rent and then make them accountable for the state of the premises and returning all of the keys etc.
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]]> Comment on Collecting From Evicted Tenants by Bill Biko http://www.investors.housez.ca/blogroll/collecting-from-evicted-tenants/comment-page-1/#comment-35129 Bill Biko Sat, 04 Feb 2012 06:28:35 +0000 http://www.investors.housez.ca/?p=429#comment-35129 Hi, You definitely cannot let them use the security deposit for last month's rent as it leaves you exposed if there are any damages. If they don't leave by the eviction date, you can either coast and hope they leave (leaving them in complete control) or take them to court through the RTDRS or the regular court system (putting you in control). You can approach a collection agency, but without a judgement from the court or an airtight case showing they owe you money they likely won't be able to do much for you. They could make soem harassing phone calls, but wouldn't have much leverage. If you do go through the courts (or RTDRS) and get a judgment against them, this will also show up on their credit report, so it works as additional leverage. Hope that helps a bit, Bill Hi,

You definitely cannot let them use the security deposit for last month’s rent as it leaves you exposed if there are any damages. If they don’t leave by the eviction date, you can either coast and hope they leave (leaving them in complete control) or take them to court through the RTDRS or the regular court system (putting you in control).

You can approach a collection agency, but without a judgement from the court or an airtight case showing they owe you money they likely won’t be able to do much for you. They could make soem harassing phone calls, but wouldn’t have much leverage. If you do go through the courts (or RTDRS) and get a judgment against them, this will also show up on their credit report, so it works as additional leverage.

Hope that helps a bit,

Bill

]]> Comment on Collecting From Evicted Tenants by Newbie Landlord http://www.investors.housez.ca/blogroll/collecting-from-evicted-tenants/comment-page-1/#comment-35119 Newbie Landlord Sat, 04 Feb 2012 00:44:34 +0000 http://www.investors.housez.ca/?p=429#comment-35119 Our tenant is moving out in March after a one year lease. To be difficult they decided not to pay their last months rent in lieu of us having a damage deposit. I don't believe the tenant will pay and just hopefully they won't trash the place when they go. I have served them a 14 day eviction notice for non payment, and have been in a back and forth with the tenant. I anticipate they will not respect that and stay in until March. I know it could be much worse so what I am wondering is this: can I, without going through the courts or other formal process just send the amount the owe me for February's rent to a collection agency? Does the collection agency require some type of formal court documentation to register the debt? I figure if I can't have my rent money I wouldn't mind being a little black spot on their credit rating. I would pay a small fee to have that type of impact, but as you said sometimes it is better to let these things go. Our tenant is moving out in March after a one year lease. To be difficult they decided not to pay their last months rent in lieu of us having a damage deposit. I don’t believe the tenant will pay and just hopefully they won’t trash the place when they go. I have served them a 14 day eviction notice for non payment, and have been in a back and forth with the tenant. I anticipate they will not respect that and stay in until March. I know it could be much worse so what I am wondering is this: can I, without going through the courts or other formal process just send the amount the owe me for February’s rent to a collection agency? Does the collection agency require some type of formal court documentation to register the debt? I figure if I can’t have my rent money I wouldn’t mind being a little black spot on their credit rating. I would pay a small fee to have that type of impact, but as you said sometimes it is better to let these things go.
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]]> Comment on It Starts At The Bottom by Bill Biko http://www.investors.housez.ca/blogroll/it-starts-at-the-bottom/comment-page-1/#comment-34145 Bill Biko Mon, 09 Jan 2012 20:15:52 +0000 http://www.investors.housez.ca/?p=1261#comment-34145 You are also in an entirely different market in the US Rick and that makes a difference as well. On the other hand if your costs are going up, taxes, insurance etc, your property can go from an asset to a liability over a few years. There have been several articles talking about the US becoming a renter's market versus a homeowner's market and most of them are a bit presumptuous with their numbers. While there has been a drop in home ownership, well over 60% of Americans still own their homes and that still makes them the majority. It does however mean there will be more renters out there and could help with vacancy rates decreasing and provide opportunities for rents to increase. Regards, Bill You are also in an entirely different market in the US Rick and that makes a difference as well. On the other hand if your costs are going up, taxes, insurance etc, your property can go from an asset to a liability over a few years.
There have been several articles talking about the US becoming a renter’s market versus a homeowner’s market and most of them are a bit presumptuous with their numbers. While there has been a drop in home ownership, well over 60% of Americans still own their homes and that still makes them the majority. It does however mean there will be more renters out there and could help with vacancy rates decreasing and provide opportunities for rents to increase.

Regards,

Bill

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