#i got the email from my employer that they were done processing and my paystub was available online

[teddykaczynski]

i really hope my early direct deposit comes today :(

[mariacallous]

I have the same conversations so so so so so so so so so so so so so so so many times and I hate repeating myself.

Client: So I’m not working anymore and I wanted to know what I needed to do?

Me, for the 10th time in the last 12 months: We need something sent in verifying your last day of work.

Client: So my last paystub.

Me, for the 10th time in the last 12 months: No, because unless it specifies it is the last paystub or includes something confirming you’re not working, it doesn’t count as a verification or proof per policy.

---

Other client: So yeah I don’t know what this employer is and I don’t know what you need from me?

Me, for the 10th time in the last 12 months: This is the date that we were told you may have started the new job. If you applied to or interviewed with anyone around that time, that is likely who you would need to get proof or something that you’re not working.

Client: Can’t you do it?

Me, for the 10th time in the last 12 months: Unless you or they give us permission and provide their contact information or authorize us to use Equifax, no, plus policy states it is client’s primary responsibility to verify and update their information.

Client: So what do you need?

Me, for the 10th time in the last 12 months: Something confirming that you have either stopped working or never started with that employer. A statement from you is only acceptable if you have tried and not been able to get the information or a response from your employer.

---

Client: I don’t understand why you keep asking me for information

Me, for the 10th time in the last 12 months: Every time we get a notification or some kind of information about your case, we’re required to act on it and send requests for verification out. So if you’ve applied to or interviewed with places, and they process your SSN it ends up with the Department of Employment and Economic Development, which connects to our system.

Client: I can’t remember everything I might have done. Can’t you just look it up?

Me, for the 10th time in the last 12 months: Unless you or the employer authorize us to do so, we cannot, plus policy states it is the client’s primary responsibility to verify and update their information. A form letting you know what was reported to us plus a form you can take to the employer or send back to have us check was sent on [x date].

Client: I never got that.

Me, for the 10th time in the last 12 months: But you got the letter letting you know that your case was going to be closing?

Client: Yes, that’s why I’m calling.\

At some point I’m expected to process documents that come in, respond to system notifications, process health care applications if the client is requesting a program but health care of some sort is already active on their case, respond to emails, respond to IMs that come in because clients just had to call the call center or they just had to go in person to the lobby.

I’m at almost 650 cases again. 

[therealestatesparkblog]

How to Deal With a Tenant Who Abandons Your Property

Lets talk about how to deal with a tenant who abandons your property. Before we get into the nitty-gritty of what you should do if your tenant abandons your property, you need to reduce your risk of that ever happening. You do that by having a really good tenant qualification process. Practice Prevention: Screen Tenants Well Something we do at our property management company when we evaluate tenants that you should do is check their income. Their income has to be three times the monthly rent. Call the employer to make sure that the paystub figures are accurate. Another thing you need to do is an eviction history check. If anyone has any kind of eviction on their record, in my opinion, that should be an automatic fail. This is because the likelihood of them doing that again is pretty high. Last but not least, you need to do a background check. Anyone with criminal activity from a felony standpoint or along those lines, in my opinion, you should not rent to. They just tend to come with a lot of problems. If they have minor criminal activity thats years and years old, we try and work out a deal. I suggest that you do, too. I always like to joke around and say that money speaks every language. So if someone is willing to put down three to six months of rent in advance or a large deposit, that should minimize your risk because youll have that buffer of capital. Again, give yourself the best chance before you put a tenant in that property if you want that tenant to stay and pay. Related: The Tenant Screening Process: Credit Check & Background Check [embedded content] What to Do If a Tenant Disappears Now once you have gone through that and placed a tenant in your property, its all fairytales and butterflies, right? Then after two months, they tend to disappear. Guys, its real estate and its a rollercoaster of a ride. Im here to tell you now, if you think its not going to happen to you, it probably will. So you always have to base everything on the worst case scenario. Something that I like to tell investors is underestimate your income and overestimate your expenses when youre investing in buy and hold properties. Something will always go wrong, and you need to expect that to happen. Weve placed a lot of great tenants in propertiesat least we thought they were great. But then they pack up and leave. They just disappear; they abandon the property, and they move out of state. We cant talk to them even though we call them, we text them, and we email them. Theyre just M.I.A. These things happen. Weve also had a lot of tenants that stop paying after two or three months for no apparent reason. They just stop communicating, and we have to evict. So what do you do? Do you hold a grudge and file for eviction? Go to court? Succumb to that negative energy?

Related: Tenants Bailed: Pursue an Eviction or Let It Go? When to Let That Tenant Go and Move On Look, in my opinion, there is enough crap that happens in real estate as it is. Youre dealing with people, and when youre dealing with people, youre dealing with problemsfrom employees to contractors to realtors to everyone. So I think that whenever something negative happens you should learn from the experience, let go of it, and move on as quickly as you can. You have to focus on positive energy. My point is sometimes it can be tough to be motivated in an industry where a lot of negativity can happen. So you have to feed yourself with as much positivity as you can. Holding a grudge against a tenant that vacated after three months, and trying to collect the rest of the rent, filing an eviction, and going through the court process is going to be extra costs and extra time. Time is money, guys. Its just not worth what you can potentially get from it. The likelihood of ever collecting anything is very low, so I just think that you should let it go, honestly. Get that property turned as fast as you can, re-list it for rent, and try to get another tenant in there. Learn from the mistake, let it go, and move on. When to Go After a Missing Tenant Now, if they cause significant damage to the property and a lot of capital has to be spent to turn that property around, then yes, file for the eviction. Go for second cause and hope you can get a judgment and collect something on that money. But still, move on. Its something I have done and will keep doing. I have lost $2 million over the last five years in my real estate endeavors, from tenants to employees to contractors to sour businesses. Its just the cost of doing business. As long as you make more money than you lose, youll always be ahead, right? I remember I got some great advice from a business person back home in Australia. He said, You cant go wrong making a profit. If its $1 or $100,000, it doesnt matteras long as youre making a profit.

What do you think? Do you agree with me or do you disagree? Let me know in a comment below. https://www.biggerpockets.com/blog/deal-tenant-abandons-property/