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
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?
