Evicted: Follow -up

Those tenants still owe over $6,000 as past due rent.

Now the family member landlord will have to incur more legal bills in an effort to collect that money.

Is it worth the additional expenses and hassle? My family member must weigh the pros and cons.

One course of avenue is a given: report their poor payment history to a credit reporting agency.

Evicted

It finally happened yesterday . Tenants were evicted from a family member ‘s rental property. These tenants , at one point , did not pay rent for six months. The family member incurred a lot of legal bills.

These tenants appeared in court multiple times. At one point they told the judge they would make payments based on a schedule they (the tenants ) proposed . And they failed to abide by their own payment plan.

These tenants have been stringing along the family member landlord for sometime. I guess they assume they could continue their game. They guessed wrong . Good riddance !

You may think I am cruel ( I ‘m not ). The landlord must pay property taxes twice a year, must maintain a basic business license , pays a property manager, funds the upkeep of property, etc. And until recently , if you owed taxes on your real property in the District of Columbia, even as little as $150, one could lose the house ( as profiled in a recent series by The Washington Post).

It’s not easy being a landlord in a city that is so pro tenant. But the times are a changing . With gentrification individuals and businesses will push for laws that are more pro landlord because we landlords provide that steady stream of revenue for the city. And hey city government , you want your taxes and fees paid on time, right? Well don’t hinder landlords’ efforts to collect overdue rent or evict non-paying tenants .

Not for Purposes Intended

Yesterday received in the mail a check for $132.23 representing a surplus from my escrow account. This morning I took this check from my credit union to the same credit union to deposit as a principal payment on the 2nd trust (along with .77 cents). I endorsed the cashier’s check payable to me as in previous years.

This morning the teller instructed me to endorse the back of the cashier’s check “not for purposes intended.” Befuddled, I asked “why?” She replied because the cashier’s check is payable to me. Didn’t make any sense but I followed her instruction.

Funny, if I had cashed that check, I would not have had to include the special endorsement. But because I used the cashier’s check to pay down my own debt, I had to include a special endorsement.

Just proves they want us individuals to be enslaved by debt!!

Lump of Coal

If you are a federal government employee, although the shutdown has ended, another shutdown is possible since Congress has not passed a budget for the current fiscal year. So we federal employees may be furloughed again in mid January.

Under such circumstances, for the upcoming holidays we must be extremely frugal. Yes Congress ‘ Christmas gift is a lump of coal.

Since we know what may happen come January, be prepared. Modify how you manage your money.

I will provide suggestions in a follow up post.