Thursday, May 17, 2007

Partial Rent Received

I spoke with my PM today and she tells me that on Monday, my tenant paid $550 of the $750 rent due and he promises to pay the remainder by the end of the week. She told him he better or she will be at the courthouse on Monday starting eviction procedures. I agreed that I want him evicted if he hasn't paid by then. From everything I've heard, it's bad practice to accept a partial rent payment and, if it were me, I wouldn't have accepted it. However, I am going to defer to her judgment, since she does this for a living and I don't.

I also found out the repairs the tenant asked for are relatively minor: caulking around a sink, once of the electric stove burners doesn't work, etc. Nothing too major.

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