Re: one to think about . . . - Posted by ray@lcorn
Posted by ray@lcorn on July 13, 2005 at 19:29:10:
We always get the judgment. Two reasons:
First, as someone said below, people do clean their act up and later want to buy a house, or have some other reason to clean up their credit. The judgment at least puts us on the radar for a phone call. The cost is minimal (about $50 here), and the court appearance just something else on the schedule.
Second, and probably more important, there is a larger issue of how we are known to do business. We have been in the business for almost thirty years, and pride ourselves on a reputation of being both firm and fair. Word travels, and a weak landlord is a sitting duck for deadbeat tenants. We don’t want them on our rent roll, and assuming they pass our screening, they know we enforce the lease to the full extent of the law.
That’s not to say we don’t work with people. We do, and often. But they have to live up to their end of the bargain, meaning that if we agree to a “set-up” (weekly installments, etc.), then we expect them to perform or we will evict and bring suit.
We’ve managed dozens of parks and apartment properties with this policy, and do the same with commercial projects. Our deliquency rate is very low, and every now and then we get one of those calls that ends up sending us unexpected money!