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Don’t ever give tenants flexibility. If you give people an inch they take a mile.
don’t deal with tenants, deal with stocks, no sob stories, no evictions, no people trashing your place on their way out after 6 months of living for free, why do this to yourself, historically the stock market outperforms real estate anyway, enjoy your life
They are self employed so when I gave them last time I only took 8 months rental to hit summer rental market so I have 3 more months left on lease
this is why I keep telling people to put money in stocks and collect dividends rather than get into the renting business, cut your loss, stop doing this, there are easier ways to make real passive income, does this feel passive?
Mentor
Are you me?
Subject Expert
Eviction processes vary by state. So check your state laws.
Coach
If you’re not an attorney, you will need an eviction lawyer. But usually, at least where we are, you need a five day notice to quit or pay rent—but this varies significantly by state, county, and city in certain instances.
Read up on your local eviction ordinances and call a knowledgeable attorney. Time for them to go. I did the same once - bought a sob story for a couple of months - and finally evicted. Definitely took us too long. It’s hard sometimes but remember you have a business not a charity.
Yes I got caught up in that too. That’s ended here now.
OP, I just saw that you’re in Texas which is a very landlord friendly state. You shouldn’t have any issues getting them out. Go online and read your local laws there are step by step guides how to do this you can literally have them out in like 25 days.
Coach
I don’t know that I agree D1. The problem is that a lot of investors in—especially multifamily—real estate don’t understand when they get into it that it is a challenge, but if you do it right and scale it’s not bad at all. But I agree it is not truly passive. But at least you control it. The biggest issue in this space is with respect to state and local legislations regarding getting rid of problem tenants. Some areas are much more favorable for investment than others. I do prefer straight up commercial to multifamily though. But I guess our pure commercial stuff is in a much better legal environment than the multifamily.
Did you tell them, or is this written in ur lease. Put ur foot down, your not a doormat
We are in texas , lease agreement says by 5th of each month they need to pay rent
Subject Expert
What’s does the Texas Landlord Tenant Law say about the eviction process? That’s all that matters if they are already “late”