I'm In A Pickle - Rental Property Related

[TorchMach]

I need some different opinions on what to do here.

So, I own a few units in the LA area, and I receive a call from Tenant A, "hey Ruben I just wanted to let you know, Tenant B's husband had a heart attack and died, he was my nephew"...i gave them my condolences and told them I was sorry.

Terrible situation all around, as I'm not good with this stuff. So, I know for a fact Tenant B's husband, was the bread maker for that family 3 kids and a stay at home wife.

So, regarding rent, I planned on sitting down with the widow at the end of the month and asking how they planned to proceed. I planned to give them March free either way, but need to know how they plan to pay me the following month. If there's obvious signs they can't and won't pay, I'll have to start the process of eviction. (obviously I don't want to, but morals a side, this is business)

Am I in the wrong? I feel like that's generous, as I've rented before. What would you guys do?

They have always been good tenants, always paid on time and have been there 9 years. I've owned the property 4 months.

I typed this on my cell so give me a break in grammar.

Thanks for you're opinions guys, I don't know what to really do.

 

[TorchMach]

Also, this isn't a upper lower middle class family. These people were barely getting by...

 

[Kevins89notch]

Sounds proper to me. No offense to them, but you're in it for the money, not charity. One month's rent seems like a nice gesture and gives them some time to think things over.

 

[TK Doom]

Don't give them the free month.

Don't contact at all.

Let them contact you, wait and see if rent comes and then if it does, you pretend nothing happened.

If you give a tenant a dime, they'll take a dollar, and then you'll be feeling bad anyway.

 

[ponyboyisaac]

I think 1 month is good. You're doing the right thing man.

 

[FIVEHOE]

Or maybe wait for them to get back to you and see what she has to say and then offer the 1 month rent? She is probably going to be a wreck for awhile trying to get things in order, I would probably wait to hear from her first.

 

[blwn306]

Maybe he left them a ins policy to carry them?

 

[shurur]

Or maybe wait for them to get back to you and see what she has to say and then offer the 1 month rent? She is probably going to be a wreck for awhile trying to get things in order, I would probably wait to hear from her first.

This.
You are already planning on losing a months rent anyway. I'd just wait.

I lived in my own rental for 18 years. It's tough when you get to know them and they you.


Before I left to FL, I hired a property management company for 10% of the rents. Best thing I ever did.

 

[Mr. Mach-ete]

This is tough. Have your sit down with her to show her you're not a heartless prick, give her a month to get her affairs in order. Tell her you'll be back in 30 days to determine what comes next. She's most likely overwhelmed with anxiety, she also understands she must make the rent payment too. Hopefully it all works out for the both parties.

 

[shurur]

Familiarity breeds contempt...

 

[derklug]

The one month is generous, and it gives her a chance to get her head together. She may end up better off financially when everything is said and done. SS for kids, survivor benefits, welfare, life insurance, she may be sitting ok .

 

[D's01Snake]

Yeah that sucks for them, but it's not your job to give handouts to poor people. That Obamas job

 

[Lambeau]

Or maybe wait for them to get back to you and see what she has to say and then offer the 1 month rent? She is probably going to be a wreck for awhile trying to get things in order, I would probably wait to hear from her first.

This ^

They are grieving, and it will take them time. Just let them contact you.
That is very nice of you to offer a free month.

 

[CobraBob]

This is tough. Have your sit down with her to show her you're not a heartless prick, give her a month to get her affairs in order. Tell her you'll be back in 30 days to determine what comes next. She's most likely overwhelmed with anxiety, she also understands she must make the rent payment too. Hopefully it all works out for the both parties.

I would tend to go with this advice. Being proactive and demonstrating compassion is good IMO. I wouldn't just wait to see what happens. Her husband may have had life insurance or she might get other monetary benefits. Regardless, I'd wait 1-2 weeks to meet with her as she is likely in a heavy grief stage right now. You can then discuss how she plans to pay the full rent from April going forward. If she needs a week or two to figure things out, then you can say you'll meet again around the middle of March. During that time you can plan your own options so that you're prepared in advance to address the various scenarios that might unfold. Such as her asking for another free month or a temporary hold on paying rent until she has her finances in order. You are going to have to be careful that (A) she can pay the rent since she wasn't/isn't working, and (B) you know exactly what you are willing to offer her. As pointed out, this is a business and the rent contract must be enforced. Otherwise you could end up with no rent being paid and months of trying to get paid or going through eviction proceedings. Tough situation, and one reason why I would never be a landlord.

 

[POPPAJ]

Sounds like you have a plan. Full speed ahead Ebenezer.

 

[Machdup1]

Don't give them the free month.

Don't contact at all.

Let them contact you, wait and see if rent comes and then if it does, you pretend nothing happened.

If you give a tenant a dime, they'll take a dollar, and then you'll be feeling bad anyway.

This. If there was a leaking pipe with their unit and your wife had just died, do you think they would let you slide for a couple of months before you fixed it or would they demand you do something about immediately? Business is business.

 

[Zemedici]

This. If there was a leaking pipe with their unit and your wife had just died, do you think they would let you slide for a couple of months before you fixed it or would they demand you do something about immediately? Business is business.

Same thing I was gonna say. Business is business.

 

[Screw-Rice]

Don't give them the free month.

Don't contact at all.

Let them contact you, wait and see if rent comes and then if it does, you pretend nothing happened.

If you give a tenant a dime, they'll take a dollar, and then you'll be feeling bad anyway.

This with slight exception.

Sounds like you are planning on giving them the month. Do it if they contact you and say they may not make it, but if it shows up continue as if nothing ever happened. Sounds bad, but plenty of people will use a death to take advantage of anything they can.

 

[OhIIICobra]

Sounds like they will be covered pretty well under Obama's multiple social programs. Un-employed wife, 3 kids, recently deceased husband, probably getting an insane tax return chalk full of earned income credits. If you want to make it your problem you should just gift them X amount of money. Scenarios like hers are set up to thrive under the current administration without her changing anything. I wouldn't be jumping in as a safety net to replace existing social programs that I am taxed on. I would never advise initiating contact with a grieving family if you are a business even if your intentions are good. They will contact you when you are ready. I guess when you rent to a sole provider with 4 dependents these things should be expected.

 

[MG0h3]

Id wait until the rent is late, if that even happens.

If it is late and you have to contact them, be prepared for the sob story. Of course we would all be sympathetic, but you'll have to get them on topic and the topic is paying the rent so you can pay the mortgage.

DO NOT OFFER THEM FREE ANYTHING

Ive got three rentals; been a landlord for about 14 years now.

One guy and is wife are new renters. He had open heart surgery and his wife's mother and daughter both died, within a month :bs:

He hung up on me Friday when I asked why the rent is 10 days late.

I'm going to give him the friendly Sunday call right now.