Tenant Filing Bankruptcy Due To Medical Bills
I've been notified by my tenants that they will be filing bankruptcy due to some medical bills of their daughters. They have been fairly good tenants over the last 6 months and have paid their bills. Should I be concerned about my ability to collect rent in the future.
This probably depends on your state laws. Call your attorney and ask him.
I don't mean to sound heartless, but if your tenants took the time and trouble to notify you of this, I'm betting that they think they won't need to pay rent for a while. If they are on a month-to-month lease, ask them directly if this will affect rent their rent payments. If they say yes, tell them that they have 30 days to move out. If they say no and then don't pay their rent, evict them.
Did you run a credit check on them when they moved in? Maybe they just wanted to let you know in case you found out they filed.
If it is due to daughters medical bills and they are still working I dont see why things will change. I would however agree with the above post, and ask them if this will effect there rent payments...
Just my 2 cents...
Scott