What a roller coaster ride.
As I mentioned in a reply to my last entry, I got an email from my agent this morning saying the renters are now becoming shaky with the whole deal. All the fees - mine and the utility company's - would cause them to run out of cash fast. The renters told my agent they would leave their pets with in-laws to avoid my pet deposits ($200 refundable / $200 non-refundable), but even that wouldn't probably be enough.
I emailed my agent back with a compromise. I told her the tenants could pay me half of the security deposit by or at lease signing and the balance before or with the Septemeber rent. She relayed my new terms, and the tenants agreed to the compromise. Whew! Investor, "rehabber", accountant, manager, and now diplomat. And this is just ONE property. :-)
Instead of cutting me a new check, my agent said the tenants agreed I could go forth with the check they already submitted, and use it for half the security deposit, the prorated July rent and the remainder as balance forward for Aug rent. In August, they will pay me the balance of the rent due only. Then in September, I'll get the rent check plus the remaining half of the security deposit.
I'm a little uneasy about this whole deal, but I can live with it for now. I just hope that (1) they don't "sneak" their dogs in the property after agreeing not to have pets, and (2) when September rolls around they have the funds to pay the rent and other half of the security deposit.
3 comments:
Good job! If they sneak their pets in, you have grounds to evict them. But I don't think they will. Play diplomat again and let them know when they have enough money saved for the pet deposit, they can bring their pets home.
Sorry to break it to you, but a renter who tells you that they will leave their dogs behind is either lying or lacks some other important values. What kind of person would leave their loved pets behind so they can rent a house for just six months? I'd be really concerned with this situation.
Yeah, one of my fears is they will bring the dogs anyway. I believe my agent told me their in-laws live in the area, so that could ease my fears a little. But I'll probably take Shaun's advice and tell them they can pay me the pet deposit in installments, if they really want to bring them.
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