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re: Landlord Question - Evictions

Posted on 9/30/08 at 2:05 pm to
Posted by 19thHole
Working on my TPS reports
Member since Dec 2007
4908 posts
Posted on 9/30/08 at 2:05 pm to
Well it depends, sometimes leases hold up in court and they can place a judgment lien on the defendant until they pay you the backed rent

in other cases, if you go through formal eviction proceedings you may be able to have the sheriff remove the tenant for non-payment but you may not be able to recover the lost rents

that's why as part of your NOI on investment property each year it is always prudent (and obviously necessary) to account a 5% or so piece of your budget for vacancy or collection losses

:notalawyer: FWIW
Posted by Htown Tiger
Houston
Member since Sep 2005
2314 posts
Posted on 9/30/08 at 2:17 pm to
Thanks 19th...would suck not to be able to recover it. Hopefully the lease will stand up in court if need be. Currently looking into a lawyer who specializes in eviction cases....hate to go that route, but may not have a choice.
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