44) Why HOAs Suck Right Now & How to Evict

House Money Weekly

In this week’s House Money Weekly segment, Lauren and Alan get together with their special guest Skylar Romines. They discuss blog 142, 3 Secrets to a Successful Eviction. Alan has only personally handled one eviction, but he’s had property managers do some with him. Lauren, on the other hand, has had to have an Airbnb guest removed and she’s had a squatter. If you are a landlord, you’ll likely encounter evictions, and you must understand how it works and its process. Evictions can be handled rationally. The 1st secret is judges love paperwork. They don’t care about the back story of what happened. They’re going to go by documented communications and the lease. The 2nd secret is to not accept partial payment. If someone comes to you and offer to pay $300 for their $1000 due and will pay $300 next week and another $300 on the other week and you said yes, you basically have an implicit verbal agreement that they can now pay partial payments without penalty, and you are basically giving this tenant permission to always be late and to always give partial payments. That’s why Alan doesn’t accept partial payments, even if there is a roommate situation. The 3rd secret is that mediation is the real winner. In most cases, the judge goes over the law for the tenant and landlord and sends them to mediation. In this recent eviction, Alan and the tenant agreed on a deal through mediation. Skylar shares an example from a friend of hers in California, who was able to get a non-paying tenant in an inherited property out after a year. Alan reminds us all that you can potentially avoid evictions by cash for keys.

 

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