So I'm still a sucker. Way back when...when I first became a landlord I thought it would be easy to deal with tenants. But I got a quick awakening on my second property- when my new tenant paid her security deposit and first months rent...and never paid again. I kept getting excuses...I lost my job...blah blah blah. But...being the nice guy that I was- I gave her the benefit of the doubt and tried to work with her. Well that ended 5 months later after an eviction and 6 months of no rent.
I swore at that point- no more Mr. Nice Guy. I would never allow myself to again be taken for a fool. Someone had taken my "niceness" for granted and it cost me 6 months rent.
So guess where I'm coming back from today- yep- court. I just finished doing two evictions...eviction that should have been done 3 months ago. But once again- I tried to be nice and give someone a hand when they were down. I'm here to tell you- it doesn't work.
But what makes it worse- is that I've been doing this for 10 years now. I should know better...I give speeches on landlording and I tell people to issue the pay or quit on the 6th day that rent is not paid- and follow up with a Unlawful Detainer Warrant 5 days later. I didnt follow my own advice.
So once again- landlords...especially newbie landlords. Do as I say and not as I do...issue the pay or quit as soon as your grace period ends and follow-up immediately with the Unlawful Detainer Warrant. Usually that step is enough to get paid- but dont worry that it makes you look mean. Just do it- your financial independence depends on it.