How To Collect Past Due Rent

Dear Anaya

02/21/24 • 24 min

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How To Collect Rent Owed After Property Acquisition

1. Review The Lease Agreement

2. Document The Money Owed

3. Communicate With the Previous Owner

4. Follow Up with Phone Calls

5. Evaluate The Cost-Benefit - Is It Worth It?

6. Protect Your Rights

7. Seek Mediation

8. Consider Other Options-Payment Plans

9. Learn From the Experience

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02/21/24 • 24 min

Dear Anaya - How To Collect Past Due Rent

Transcript

Dealing with a situation where the previous owner owes you money for rent can be challenging, but here are some steps you can take:

Review the Lease Agreement: Check the lease agreement or rental contract to understand the terms regarding rent payments and any clauses related to owed money. What I’ve seen in acquisitions is rent rolls being spiked to make the purchase more attractive. The investor I worked for purchased like 6-7 properties in one year. All numbers

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