May 22, 2014

Lessor Lessons #2

As mentioned in my earlier post, we are now on our second lessee who I had hoped was better than the previous one. I learned before not be too gullible because we lost some money on our first lessee.  For the next one, I asked for the 2 months deposit, and they requested not to have any more advance payment as they promised to pay right away in a month, and I agreed.  This is where lesson #2 comes in: Do Not Be Too Lenient.  They are now on their 6th month, and all their payments except for one has been delayed. As of this writing, I have only a promise of payment for the month of April this Monday, and for the month of May, on June 1.  I had a heavy texting session with the lessee yesterday and I told them to look for another house if they can't pay on time. I also checked, and their utility bills for April have not been paid.  I will stand to lose more than P5K if they will just up and leave, since I will have to pay those bills but I would rather do it now than later. Anyway, I will wait until Monday (did I say not to be too lenient???) and see how this goes.

This is really not turning out to be as easy as I thought it would be :(