If You Face Eviction, Here Is What To Do

[No DUplicitous DUpe]

http://sane-ramblings.blogspot.com/2011/01/if-you-face-eviction-here-is-what-to-do.html

In this terrible economy, any renter can suddenly lose his or her job and face eviction. If it happens to you, what should you do? I asked my son Kyle, who is CEO of a successful 14 year old Los Angeles area property management company with over 3,000 units under management. His advice is applicable to you wherever you are, but do consult a local lawyer before taking action. And please share this with others who may be in need.

Dear Dad,

I would do the following if I were a tenant:

- Be realistic to conservative about household finances.

- Start planning ahead if household income drops or looks like it is dropping.

- Discuss the issue with the landlord as they might make a rent reduction (even temporarily) for a good resident.

- If the current lease is not feasible, contact the landlord BEFORE the rental payment can’t be made.

- Most landlords will try and place someone in a unit that can be afforded (downsizing or a less prime location) so that they don’t lose a good resident.

- Communicate with the landlord if payments can’t be made. Don’t make them chase you.

- Avoid an eviction at all costs. It takes approximately 60 days for an eviction so for 2 month’s rent, a person’s credit is severely damaged.

- Most landlords will rent to people with damaged credit (i.e. unpaid medical, credit card collections) but won’t rent to someone with an eviction. It is truly a scarlet letter.

- Remember once you can not pay the rent, inevitably other living arrangements (via friends / family) must be made. Don’t wait, be proactive and move out. Often times a landlord will give a week or two without the eviction if there is a promise to vacate.

- You are not alone, many people are facing the same problems. Deal with the adversity head-on as it will bring better results than hiding and kicking the can down the road.

- Once back on my feet, I would live within my means and budget so that I was putting away at least 10% of my paycheck for a rainy day. Hopefully I can build up enough money to buy a property of my own, remembering that if I use an FHA loan, I can buy with as little as 3% down.

I hope this is helpful.