Newbie landlords say their tenants vacated with no notice and “can we report them to credit bureaus” to help other landlords down the road is the question this week for veteran landlord and property manager Hank Rossi .
Dear Landlord Hank:
We are newbie landlords and tenants vacated the premises with no notice and owing two months’ rent. Do you have information as to how to report this to give future landlords a “heads up” regarding these tenants?
Dear Landlady Julie,
You can’t put this directly on the tenants’ credit file unfortunately.
If you’d done an eviction, that would show up.
The next best way is to turn the debt over to a collection agency and then this debt should show up on tenants’ credit.
I understand being a new landlord, but the initial screening process is vital. When tenants want something they can be charming and well dressed, polite, drive an expensive car, etc.
But you want to rely on their history and background, credit, rental/residential (maybe they’ve owned a home?), criminal, sexual offender/predator.
Use a screening company that you trust or you can do the digging yourself. But make sure you do it, so the chances of this happening again, are diminished.
Also, make sure you use a strong lease and abide by it. If the tenant is late with the rent, impose a late fee, and give them official written notice, that unless they pay up, as agreed to in the lease, eviction is the next step.
This is a business for you and sob stories won’t cut it. Strictly business.
Your mortgage company doesn’t care if tenants pay or not, they want to be paid and will foreclose if you don’t. Best of luck!
Each week I answer questions from landlords and property managers across the country in my “Dear Landlord Hank” blog in the digital magazine American Rental Property Owners and Landlord Association. www.arpola.org/blogs
Other recent Dear Landlord Hank posts you may have missed:
Tenants Vacated With No Notice Can We Report Them To Credit Bureaus?