Rent Collection Nightmare

Comments(8)

• 
  InActive_Account11th October, 2004

  seems to me that's theft but the police would be the ones to determine whether or not there was enough evidence to prosecute. in my area, you can also file a private criminal complaint but I'm not sure how much support you get from the 'system' on those.

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  ray_higdon11th October, 2004

  Never do this unless that person collecting rent is an employee of yours or at least a hired entity. Doubt you will get much help but I would pursue reporting him to the police, might be a good hopefully not too expensive lesson to learn

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  active_re_investor11th October, 2004

  In some states a person who collects the rent on a place they do not own much have a RE license.
  
  I would say that you should put the missing rent and deposit in your educational column as money you spent learning.
  
  John
  [addsig]

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  ahmedmu11th October, 2004

  I may have to write it off but I intend to report it to police. Faced with the police report and eviction notice, the bum may bolt sooner than later. If he doesn't pay me, I hope he pays his lawyer. He may get free legal advice on eviction but not on theft.

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  64Ford13th October, 2004

  Anyone handling money for you in a situation like this should eaither be a licensed Realtor, or bonded.
  You can have a quasi-manager collect rents for you, but problems like this are known to occur. If they are bonded, the bond will take care of the missing money. You may be surprised when you go to get a bond for an individual, that they are not bondable, because of a hidden ciriminal background, etc.
  Bottom line: if they handle your money they need a license or a have a bond on them

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  ahmedmu13th October, 2004

  Thanks a lot for all the helpful comments. I joined this forum before I purchased any real estate. I have been in the financial industry for 15 years but didn't know much about RE. I really appreciate the help and support I get from this board.
  
  I wish I could get private messages
  
  I don't know what product I should buy to upgrade my mebership that is worth my while.

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  j_owley14th October, 2004

  you might mention to him that thiefs and greedy person's will not inherit Gods Kingdom.
  
  He may not accept it or believe it, but at least he will have recieved some notice of what is coming
  
  John

• 
  ahmedmu14th October, 2004

  Unfortunately, this guy keeps on saying he is a God-fearing and church-going person :-(