bad checks leave landlord in the lurch
Posted in Real Estate Legal Discussion By Phyllis Cureton, Thursday, June 26, 2008.True story. Colleague whose business-minded husband is very sick rents to a lady in Washington, DC who purportedly is an entrepreneur and can only produce bank statements, not W-2s or 1098s. The tenant pays one month security deposit and first month rent using regular checks.(Colleague now recognizes this was a major faux pas). Her three references are based out of town but all say very nice things about her and her work. Surprise, surprise both checks bounce and the woman stops returning calls. Currently, she is still occupying the property. What can my colleague do to repossess the property? BTW, my colleague just found out she can't use landlord/tenant court until she produces a business license and she can't produce that until she pays DC business tax on the rental from prior years. (She thought paying her federal and state taxes included this.) When did the clean hands law come into existence? Will she have to pay 20 years of back taxes? How does she get the tenant out as quickly as possible?
You must login or register to post a comment.
Submitted by Wallace Gibson CPM on June 27, 2008 - 2:53am.
I am always AMAZED that people who have sufficient resources to own real estate automatically THINK they know how to be landlords.
There are literally THOUSANDS of books on how to be a landlord INCLUDING "Property Management for DUMMIES"...the FIRST RULE of leasing is KNOW YOUR AREA, STATE, FEDERAL laws/rules/regulations. The SECOND RULE is to get "move-in monies" in CASH or Bank/Certified funds....ALWAYS.
I have little to no sympathy for anyone in the Internet Age who can't Google LANDLORD and come up with 20 websites on how to be landlords and MOST have discussion forums where knowledgable landlords are there to help "newbies"....MrLandlord is the BEST as question/answers are state-specific and responses are valuable and experience based.
They need to pony up money for license and taxes THEN hire a professional property manager NOW who knows the DC laws * especially those on discrimination....
40 years of property management experience...age and experience trumps youth and enthusiasm every time!!! http://VaHomes4Rent.com