Need Advice: FIL's Tenant Missed Two Rent Payments - What Are His Options?

[AsherO]

if u are talking about rent regulated apts, the way rent control and rent stabilized rents are raised are totally different.

No, I'm talking about how the rest of us suffer because these apartments don't get vacated too quickly so there's less supply, and the landlords of those buildings have to make up the lost income somehow...

[Devorah]

No, I'm talking about how the rest of us suffer because these apartments don't get vacated too quickly so there's less supply, and the landlords of those buildings have to make up the lost income somehow...

lol. u think if there was more supply they wouldn't try to get the max rent they could?!

[AsherO]

lol. u think if there was more supply they wouldn't try to get the max rent they could?!

It's about what the market could bear, but someone has to own the buildings and with the rent control tenants it "cost more" to own those buildings, so the rent-rolls are driven higher.

[Devorah]

It's about what the market could bear, but someone has to own the buildings and with the rent control tenants it "cost more" to own those buildings, so the rent-rolls are driven higher.

True.  But what you say about "what the market could bear"  exists regardless of rent control...

[AsherO]

True.  But what you say about "what the market could bear"  exists regardless of rent control...

I don't think so, the rent control apts definitely eat into the supply, and (IMHO, for you) justify (to the landlords) raising the prices.

[yuneeq]

Assuming a landlord follows everything according to procedure, how long it would it typically take to evict a tenant in NJ?

Also, is the eviction law set by the state, county or township?

[AJK]

Not sure how long it'd take but in NJ, but if it's anything like NY, it can take awhile.

I imagine it's set by the state.

[moko]

Not sure how long it'd take but in NJ, but if it's anything like NY, it can take awhile.

I imagine it's set by the state.

It's actually set by both state and city/county, mostly by the city. For instance while everyone is familiar with the infamous NYC eviction process/ squatters rights, up in Troy, NY evictions commonly (at least for me it has- though I had a professional taking care of it)  take 2 weeks and $250 (you can even make money off the eviction if u sign a new lease immediately.)

[yuneeq]

It's actually set by both state and city/county, mostly by the city. For instance while everyone is familiar with the infamous NYC eviction process/ squatters rights, up in Troy, NY evictions commonly (at least for me it has- though I had a professional taking care of it)  take 2 weeks and $250 (you can even make money off the eviction if u sign a new lease immediately.)

Thanks.

Do you know of any sites I could check to see the realistic amount of time I would have to wait for eviction in Ocean County? I've seen the government sites, but as I have read here, reality commonly differs from what the law is.

[churnbabychurn]

Thanks.

Do you know of any sites I could check to see the realistic amount of time I would have to wait for eviction in Ocean County? I've seen the government sites, but as I have read here, reality commonly differs from what the law is.

I heard a story where it went to court and dragged on for many months because the tenant had a disabled child and the judge was the bleeding heart type....

I would recommend talking to an experienced local real estate agent who has seen it all. (Not some young whippersnapper)

[Mutty]

I went through this a number of years ago. I went to court, had to get a lawyer. It took 9 months and they destroyed the aapt. No rent and had to fix up. Had to have a Marshall take him out and I had to pay for taking out all his stuff and storing it. I'm sorry to have to scare you, but it's an absolute nightmare. And no one argues at any time that it isn't the tenants fault. His lawyer actually left him in middle as well for not paying him! Hatzlacha. I hope you do better than we did. Since then we're quite careful on who we take in,

[yuneeq]

I went through this a number of years ago. I went to court, had to get a lawyer. It took 9 months and they destroyed the aapt. No rent and had to fix up. Had to have a Marshall take him out and I had to pay for taking out all his stuff and storing it. I'm sorry to have to scare you, but it's an absolute nightmare. And no one argues at any time that it isn't the tenants fault. His lawyer actually left him in middle as well for not paying him! Hatzlacha. I hope you do better than we did. Since then we're quite careful on who we take in,

Happily, I am not in that situation now, I am just trying to understand the risks involved in an investment.
Thanks for your input.

[churnbabychurn]

Happily, I am not in that situation now, I am just trying to understand the risks involved in an investment.
Thanks for your input.

run credit checks and have a proper contract with a month up front and deposits and them pray.

[Menachem613]

I went through this a number of years ago. I went to court, had to get a lawyer. It took 9 months and they destroyed the aapt. No rent and had to fix up. Had to have a Marshall take him out and I had to pay for taking out all his stuff and storing it. I'm sorry to have to scare you, but it's an absolute nightmare. And no one argues at any time that it isn't the tenants fault. His lawyer actually left him in middle as well for not paying him! Hatzlacha. I hope you do better than we did. Since then we're quite careful on who we take in,

Did you try suing them to recoup your losses?

[Fan of Dan]

Assuming a landlord follows everything according to procedure, how long it would it typically take to evict a tenant in NJ?

Also, is the eviction law set by the state, county or township?

Why don't you get in a touch with a good property manager from the area? They would know the in's and outs better than anyone.

[Mutty]

Did you try suing them to recoup your losses?

You can't sue someone that "has no money". In fact they made up a bogus lawsuit that they hurt themselves in the bathroom (the one they destroyed) and after explaining the true situation to the insurance agent, they were given money anyway! It is definitely not a landlords world. We also found out these people did the same thing to the last landlord. Just be REAL careful who you take in. And even then you gotta pray!

[SPLP]

run credit checks and have a proper contract with a month up front and deposits and them pray.

it is the same all over the world ,when i was in NY I had a problem that took months( commercial ) to get him out -- in Athens same --- THE TENANT IS ALWAYS GIVEN THE RIGHT TO STAY THE OWNER IS ALWAYS THE BAD GUY

I  GET MONTHS SECURITY and  1ST  AND  last months rent --  when u have a bad tenant-- it does not cover you, it just helps u feel "maybe" they are ok when u give them the key's--being a landlord is no fun -- and if you ever get a real bad one , the damage will be huge and will never knowit till they are out