Evict Or No?
I own and occupy a multi fam building in Brooklyn NY. I inherited 3 out of 4 tenants and they're fine except 1. He's been late every month but one. I have to track him down to have him tell me he'll give it to me the next week due to a payroll issue.
He does pay in full the next week when he says he will. But it's like the 1st of the month is a surprise everytime.
This is where I don't know what to do.
I'm new at this game.
He's an ok tenant. A functioning alcoholic, which doesn't thrill me, but his behavior has been fine. I'm not interested in being his friend.
I think he's got a macho thing going on and if I was a guy he'd probably be more upfront with me instead of hiding.
I'm just wondering if I should cut my future anticipated losses and encourage him to leave.
he's got no lease, just m2m.
also, i could probably get somewhere between $200-300 more a month from a new tenant.
in reading this, i would say to me, get him out, but i guess i feel bad.
Hey Yankee,
I think you situation is not so bad but you said you feel bad about kicking him out. If you want him out, get rid of him. I would say something like ( I am going to have to raise your rent 300 a month) see how he responds. He might just leave. But if he stays, keep getting more strict about paying on time. Eventually he will get the point or at least wont be shocked the day you get fed up with him and kick him out.
Im no pro but thats what I would do.
BTW, I was curious what is the average rent like in your area. I never been to NY but want to soon. Thanks
"BTW, I was curious what is the average rent like in your area. I never been to NY but want to soon. Thanks"
Thanks senatorcbp2,
well it's hard to tell you the rents in nyc as it's a pretty big place when you take in even just Manhattan and Brooklyn. Rents are all over the place, they mostly high tho'.
A great place to see current rents is on craigslist. http://newyork.craigslist.com
but i've got one apt renting for $1250 to new tenants after a paint job and minor cosmetic work. They're all 4 room railroads. If this apartment was in Greenwich Village in Manhattan it would probably be at least $3000.
I hope you visit nyc and have a marvelous time. I love this town!
New York, New York a wonderful town.
I was 15 just graduated from High School I hitchhiked across the country and ended up going to NYU down in the village. I rented the artists loft at 40 Washington Square for $7 a week. I got a scholarship if I would assist the Fencing coach also in the village. I got a job with World Wide Photo. Shooting police occasions at night that paid my way and I loved it. Of course I put in the bathroom on the top level. I have a picture somewhere of me carrying a toilet down 5th Avenue. The year 1940.....
As to your tenant. Wear an ugly non formfitting sweater, large splay'd shoes, let your nose run and wear no makeup. Go to him and tell him because of the hard times you will have to increase his rent and pick a goodly sum. Hand him his proper notice and depart Try to walk with a limp.
He will leave and the secondary fumes
of his slight addiction will be no more. I much prefer the alkies over the pot smokers. At least the alkies will share and I have a common language with them. Being a girl is a problem. People look at you. While with me it is the opposite. This enables me to serve notices say mean things and get away with it. You on the other hand are always noticed.
I think the above method will work it does for me. Of course I cheat, I find them other housing and collect a finders fee on that.
Cheers Lucius
I think you answered your own questions, but just to offer confirmation: Get him out! He's not even paying you market rate, and is still a pain to deal with! You don't need the headache, and can be making more $
I agree that he has to go. If he's any trouble, which he is, and your not maxing out on his rent its time for him to find a new place to sit his 40 oz. Good luck
1. You should have a clear contract with each tenant. One that spells out all the rules, etc. Even if they are on a month to month you need a contract that is very clear. It helps to educate them what they need to do so they can remain in the home.
2. Anyone who fails to follow the rules is cut lose. This does two things. It makes it easy for you to say to the all the tenants that there are rules and if they are followed everything is fine. If they are not followed you evict. It this is there choice if they want to sign up and stay. When they fall out of line they are choosing to leave. DO NOT feel bad. It is not about how you feel. The rules are clear and if they are responsible they can follow them.
Think of it this way, if they can not pay on time does you lender say to you that you can be late with the payments. The banker does not care. Hence you should not either. You are not a charity. If they want a break, send them to a charity that will pay you and then they can stay.
3. As to market rents... Price the units where you need them to be so the turn over is not too high. You want market rent but you also do not want a lot of vacancies and the associated costs of fresh paint, cleaning, advertising, etc. Hence there is a point where you can balance the switching costs vs. hanging on to the present tenants.
John
[addsig]
Well nobody seems too fond of this guy and I guess my advice is similar. But I'd approach it a little differently.
I'd explain to the problem tenant that your plan for the building includes fixing up all the units and that his is the one you want to do next. Nothing personal, nothing about his drinking problems or his late pays. Like Lucius I'd deliver the appropriate notice of termination of tenancy along with this conversation. In Illinois that consists of a full calendar months notice that you are not renewing his month to month tenancy. I'd recomend a good rental agency which can help him find a new place. Be very apologetic but very firm.
Don't forget that by keeping this guy as a tenant, you may be jeopardizing the good tenants that you have. The reason I moved out of my apt. many years ago was because the guys down the hall were horrible. When I left, the management company asked why and I told them. The management company was horrified and said they wished they had known there was a problem because I was a great renter (got back my full deposit after two years, and always paid early).
debsgrrl212, I hope we have helped you out.
Lufos, was your post real. If so how old are you. The first paragraph that you told about your life sounds like a movie or a movie waiting to happen. Were you in WWII. Heck I just might write a screenplay about you. Of course I will give you a cut of the profits.