RV repossession question
I rented out to own my 5th wheel for someone to live in. They have defaulted on the rent. How do I repossess while they are still living in it?
Forum Discussion
- 352 has it down. $500.00 to get out of Dodge. Not even a question of which way is cheaper, moneywise AND timewise.
- Yup, As a few others have said HOOK UP AND GO. It a fifthwheel!!!!
- OP hasn't chimed back since the opening post . He must have put the title in her name already & thought she was gonna trade it out. :S
- hook up and drive them away in it
- Maybe just: When they are out of it, put their stuff out on the street edge and tow it home or to a undisclosed location. Charge the locks.
352 wrote:
I have many investment properties. Through experience I found this to be very effective. Approach the tenant and ask if they would accept a cash payment of $500 to move out in 3 days. If they accept return and have some paperwork ready to be signed by the tenant and also have the local sheriffs department available when the paperwork is signed. This has worked %90 of the time for me. The $500 really pi$$es me off but it is a he!! of a lot cheaper than the cost of an eviction. Good luck
This....in the investment property world, we call this "cash for keys" and is worth an attempt. Much easier and cheaper than an eviction.westernrvparkowner wrote:
2 excellent responses.352 wrote:
This would be my attempt at minimizing problems as well. Even if there is nothing in writing it is going to be a big problem if they don't want to leave. Incentives to leave is the absolute best outcome to hope for. Do not, under any circumstances, move the trailer, lock them out, turn off the power or anything else. It is amazing but true that even the deadest of deadbeats somehow know every in and out of landlord/tenant law. Take the wrong steps and you will be paying them thousands upon thousands of dollars in damages all while they are living rent free and destroying the trailer in the process.
I have many investment properties. Through experience I found this to be very effective. Approach the tenant and ask if they would accept a cash payment of $500 to move out in 3 days. If they accept return and have some paperwork ready to be signed by the tenant and also have the local sheriffs department available when the paperwork is signed. This has worked %90 of the time for me. The $500 really pi$$es me off but it is a he!! of a lot cheaper than the cost of an eviction. Good luck
OP ie the Original Poster - Are you reading this thread? Any response? The $500 is conditional on them actually moving and no substational damage. A hole in a door for example is not substational. Cut your losses.352 wrote:
This would be my attempt at minimizing problems as well. Even if there is nothing in writing it is going to be a big problem if they don't want to leave. Incentives to leave is the absolute best outcome to hope for. Do not, under any circumstances, move the trailer, lock them out, turn off the power or anything else. It is amazing but true that even the deadest of deadbeats somehow know every in and out of landlord/tenant law. Take the wrong steps and you will be paying them thousands upon thousands of dollars in damages all while they are living rent free and destroying the trailer in the process.
I have many investment properties. Through experience I found this to be very effective. Approach the tenant and ask if they would accept a cash payment of $500 to move out in 3 days. If they accept return and have some paperwork ready to be signed by the tenant and also have the local sheriffs department available when the paperwork is signed. This has worked %90 of the time for me. The $500 really pi$$es me off but it is a he!! of a lot cheaper than the cost of an eviction. Good luck- I have many investment properties. Through experience I found this to be very effective. Approach the tenant and ask if they would accept a cash payment of $500 to move out in 3 days. If they accept return and have some paperwork ready to be signed by the tenant and also have the local sheriffs department available when the paperwork is signed. This has worked %90 of the time for me. The $500 really pi$$es me off but it is a he!! of a lot cheaper than the cost of an eviction. Good luck
labonteak wrote:
Do you even know where they are?
I rented out to own my 5th wheel for someone to live in. They have defaulted on the rent. How do I repossess while they are still living in it?
Have you visited them in person to calmly discover their situation that caused them to stop paying? As a landlord you may still need to maintain the trailer. Written agreement should have provisions for all this.
If they really intend to not pay anything I would very nicely ask them to move out and allow you to come get the trailer. Offer to bring no legal action, no bad mark on their credit, no bad mark on their rental history etc if they are out in 30 days. Ask them to give you or send you a 30 day notice to quit to formalize the offer.
Expect the trailer to be nearly demolished inside upon return. I assume these people are judgement proof so court could be an expensive battle with no chance of recovery.
Rental business is tough at times. I know you tried to help these people. You know the saying... no good deed goes unpunished.
What is the realistic trade in value of this trailer?
