Newbie questions here..
If the tenant doesnt pay, I assume that is the loss of the owner, not the manager, correct? In other words, the owner should not expect the property manager to pay the owner out of their pocket?
Who's job is it to go after the tenant with a rent suit of some kind, the property manager or the property owner?
2007-07-15 17:00:44 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
It's the owner's loss but if the property manager is paid via commission then he or she will lose the commission until the rents are collected. It is NOT appropriate for the PM to have to cover the LL's losses.
If the PM is providing a full service for the LL, it is the PM's responsibility to handle the evictions as the owner's agent. If it's less than a full service agreement then the agreement would have to address that issue.
I always used full service PM's and had them handle all of the scat work for me including evictions. A good PM usually has an inside track on such issues and can run the eviction much more efficiently than the average property owner.
2007-07-15 17:12:06 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
I used to work for a county court clerks office and who ever the land lord is..which more than likely be the owner would have to take care of the rent suite. The first thing to do is go to your county court clerks office and fill out a form called a Forciable Entry and Detainer also known as a FED or could be called something different but that is what it was called when I work for the county. The clerk will probably ask you if you had given the tenant a notice of 5 to 10 days at least it could be different from state to state. The clerk should help you further in the paper work as far was what you should do next. Good Luck!!!
2007-07-15 17:21:06 · answer #2 · answered by Anonymous · 0⤊ 1⤋
My property manager includes that service in the fee I pay. the fee is a percentage of rent collected, so they have the incentive to keep the units rented, but you still have to keep any eye on things. Sometimes they can get a little lazy in dealing with slow paying tenants and you end up with someone owing you for months of back rent.
And yes, you are correct, the loss is to the owner. the manager doesn't pay the lost rent
2007-07-15 17:05:08 · answer #3 · answered by John M 7 · 1⤊ 0⤋
yes loss on owner, however manager must notify resident or 3 day notice.
as far as once it gets further along, depends on the relationship and the contract with the manager. Some big firms will provide a service, some small may. End of the day, manager should handle 3 day notice, late fees, etc. suits etc are started with owner.
2007-07-15 17:06:11 · answer #4 · answered by wow_rmkr 4 · 0⤊ 0⤋
I have never seen a checklist that included the septic system. Is it in your agreement with the property manager to check it? What does your agreement say specifically about inspections? Most leases say the landlord is not at fault for tenants damaged items. That is usually the reason tenants have renters insurance. Of course most do not. When dealing with the tenant you might see what feels right to you.
2016-05-18 22:53:25 · answer #5 · answered by faye 3 · 0⤊ 0⤋
There should be a contract between the property manager and owner spelling out such responsibilities.
2007-07-15 17:06:49 · answer #6 · answered by vinny_the_hack 5 · 2⤊ 0⤋
The manager needs to evict the tenant and get a paying one. ~
2007-07-15 17:09:12 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Its the owners loss. and should be the owners resposibilty to get it.
2007-07-15 17:04:48 · answer #8 · answered by I like cheese 2 · 0⤊ 0⤋