Garnishing Wages - Posted by Shenesa

Posted by Anthony - OH on December 27, 2000 at 10:44:28:

My point was, why bother chasing money you may never see, when you can spend your time doing deals?

Garnishing Wages - Posted by Shenesa

Posted by Shenesa on December 26, 2000 at 14:30:44:

I had a tenant who broke his lease two weeks ago. The lease was for a year and he had six months left. I was wondering if anyone knew of a way I could get his wages garnished or get a collection agency involved.

Happy New Year!


Re: Garnishing Wages - Posted by PoorBoy

Posted by PoorBoy on December 27, 2000 at 02:06:18:

Have you evicted him? I mean legally? Or do you have his signature saying he is no longer leasing?

I would think that you would be happy to keep his deposit and rerent it out immediately.

From what I have read on here for 3 years, turnover can be a blessing. New deposit money sitting in my account, if the place is trashed call my insurance company, new better tenant, etc…

Re: Garnishing Wages - Posted by Jim Locker

Posted by Jim Locker on December 26, 2000 at 15:26:42:

A collection agency will take it on any time. Just get in contact with one.

If you want to garnishee wages or other assets, you first have to get a judgement against him in court. To do this, sue him. To do that, you have to be able to find him, but if you know where he works that is no problem. Just have him served at work, which will undoubtedly make his boss very happy.

Once you have the judgement for money, you can go after anything he has. Just keep in mind that you have a positive obligation under the law to minimize your damage, which is to say that you have to clean up the property and attempt to re-rent it. Your damages are not fully determined until you have re-rented it, or the lease period has expired (whichever comes first).

Re: Garnishing Wages - Posted by Mark (SDCA)

Posted by Mark (SDCA) on December 27, 2000 at 10:32:01:

No, no, no. Turnover is death to landlords. The key to making money is fairly easy with rentals. You need stable income and you MUST control your expenses.
Any time there is turnover, it costs you money. There are some minor repairs to make, advertising to run, maybe even vacancy loss. As for calling the insurance company, that is hardly a blessing. You have a deductible to pay and if you claim often enough your premium goes up.