21 June 2012

How to Get Your Money Back from your Tenant?

Have you ever evicted a tenant for non-payment of rent or you have been stiffed for the bill? You need not worry if such situation arises. You can collect your money even after years.

First, you need to get a court-ordered judgment after filing an eviction in court. This order will be signed by a judge that permits a constable to force the tenants to move out of property. You can also get a judgment against the tenant if

1. the tenant has been served with the court papers or

2. the eviction papers were mailed to the tenant

Security Deposits
If you have got a security deposit, you can use it for the damage or the non-payment of rent. However you should inform the tenant about your intent of keeping the deposit. Even if you return the deposit, you can still get the money from the tenant for the damages incurred. You need not require a lawyer for it and you just need to file a claim.

Certain assets are exempt from collection by creditors. You need to find the easiest target to collect your money and cash in bank accounts would be the most preferred target. Its always advisable to keep a copy of the tenants' check to know where they are banking.

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