landlord rights

[Elaine555]

What is the name of your state FLorida

I just received paper that my renters filed for Bankruptcy Chapter 13. It says they "assume" the lease.

They are so far in time with rent, except March is not paid yet.
Their lease expired in September. I am in desperate financial need of selling the property as it is a lost and wasnt going to renew their lease. Can I sell the property? Do I have the right not to renew their lease?

Thanks, Elaine

 

[Elaine555]

just trying to see if this work because nobody is responding?

 

[xylene]

It says they "assume" the lease.

Wo is they?

They are so far in time with rent, except March is not paid yet.
Their lease expired in September. I am in desperate financial need of selling the property as it is a lost and wasnt going to renew their lease. Can I sell the property? Do I have the right not to renew their lease?

Thanks, Elaine

When your lease expired, was it automatically renewed?

I strongly suggest you equip yourself with more knowledge of your rights, duties, and lawful priveldges as a landlord.

 

[Elaine555]

the problem is I dont have $5000.00 retainer for a lawyer and "they" of course are the renters.

I was hoping somebody here would know more about Chapter 13 bankruptcy laws, couldnt find much on the internet except lots and lots of lawyer ads.

 

[wayne-o]

elaine......just have a little patience...bigun, ladynred will probably have answers to your questions.....they just dont sit at their computers watching for questions..

 

[Elaine555]

thanks wayne....I will give it a while...just that I was told I am pressed in time ..because of the court date...I am a little panicking...

 

[xylene]

the problem is I dont have $5000.00 retainer for a lawyer and "they" of course are the renters.

Its not 'of course' at all Elaine. The other logical assumption from your misuse of a pronoun was a letter from the court.

It doesn't take 5000.00 for a lawyer to be a landlord. A tiny bit of self-education maybe. Get a book on the subject.

AND you didn't answer about the lease.

Acting clueless about the law isn't going to change anything. As a landlord you have a responsibility to yourself to understand the law.

What exactly did these tenants say. That they aren'y going to pay you? What?

 

[Sebaatian]

EASY fix, landlord: Give the tenant's a 30 day notice.

The lease expired, they are a month to month occupancy. Simple fix for you. However: If you are already upside down on the mortgage, what are your plans? Maybe you ought to wait to see if you can get a purchase offer, and let the tenant's stay for the meanwhile to pay towrds your mortgage, and indicate in the listing that the tenant's are month to month. That would either interest an investor, who may want a rented unit, or people that want to live there knowing that the tenant's only need to be given a 30 day notice to vacate?

 

[Elaine555]

Let me start over..seems that there is confusion here.

I received papers from the United States Bankruptcy Court that my renters (debtors) filed Chapter 13.
In the section "LEASES/EXECUTORY CONTRACTS" IT SAYS THAT THEY (DEBTORS) ASSUME. Now I am sure a bankruptcy lawyer knows what it means, I have no clue beside the fact that my renters told me that they would still pay me the rent.

They have a new lease until September 2007.

I have a been a landlord for 9 years had to evict 3 times which I did on my own but never had to deal with bankruptcy laws.

I have been doing some research and still havent find answers to my questions.

I tried to contact a couple lawyers that said I had to give them a retainer of 5000.00 before they can answer my questions which are:

1. Can I sell my house after or before the lease expired?
2. Do I have to file anything or go to the meeting of creditors?
3. If they dont pay their rent, what other resources do I have since I cant evict them?
4. Am I obligated to renew their lease?

Thank you for any help you can give me

 

[xylene]

1. Can I sell my house after or before the lease expired?
2. Do I have to file anything or go to the meeting of creditors?
3. If they dont pay their rent, what other resources do I have since I cant evict them?
4. Am I obligated to renew their lease?

Thank you for any help you can give me

1 - you can sell the house while leased. It is not a legal question if that will impact buyers however.

2 - If you can, I would.

3 - Why do you assume you can't evict them for non-payment? Who/What you told this?

4 - I would not think so, but that depends on the lease doesn't it. Assuming they were not in chapter 13 what would you do? Presumably the same think, but I think your own expert might be a good idea...

 

[Sebaatian]

Insight:

In a bankruptcy- the tenant has the right to bow out of a lease. They told the court (on an official form, that you received also) that they intend to stay and honor the lease, so their bankrupcty does not affect you unless they default on the lease- then you'd start an eviction. They have to pay the rent. You can always sell a rental property without the consent of the tenant- but the new owner has to honor the existing lease. Having a lease may or may not make it harder to sell that place. An investor would want a lease, a potentiaal homeowner would probably not. You do not have to extend their lease after September, but maybe you'll offer them a month to month after that if the place has not sold yet, to have income towards the mortgage? There is no reason for you to pay a lawyer, since you have no issue that needs addressed. One other thing though is the matter of their deposit- you might want to find out if in your state it has to be held in a special account, accrue interest, or whatever since in a fashion their lease is 'under the spotlight', and that deposit is listed as an asset of theirs in the bankruptcy papers. You'd want to follow the landlord tenant act for Florida- if you have not seen that, you'll be interested in it, for sure. You can get it online.

 

[Elaine555]

thanks for all your advices. I dont have a deposit from them. They are friends of mine and at the time we kind of both were helping each other but now with new development in my personal life, I have to sell the house. They already knew that I wanted to sell it but I kind of let them stay so they could have a place until they get a house. I guess they were in more problems than I thought they were to file Chapter 13. I think its crazy and in their case certainly not necessary since they could have sell some stuff, stop living like they make millions and try to buy a house instead of renting. Now they are ruining their credit. Oh well, some people just like to blame everything on other people and have no responsibility for their actions. Thanks again.

 

[Sebaatian]

If they ARE friends of yours? I'd hate to hear what you say of your ENEMIES.

Shame on your judgmental attitude. You may have no idea of some personal crisis they face, and even if not- it is harder than heck for anyone to to maintain a minimal standard of living. Shame on you, again- and here you are...publicly lamenting your own financial problems? You are the pot that's calling the kettle 'black'. And FYI? bankruptcy is a constitutional right- if you have issues, take it to the people that can change that.

 

[Elaine555]

I am sorry, I didnt mean to be judgememtal but they became my friends by living next door to me for 2 years. They throw lavish birthday parties for their chilren and bought a 30,000.00 car, they buy 1000.00 of dollars of gifts for Christmas, they go out to eat at expensive restaurants... if they could afford all these...thats not a problem...but if they cant pay their bills or rent it is...and if they want everybody else to pay that for them then it makes me mad that I have to work 50-60 hours/week to pay for that. It cost me over 200.00/month to cover that house because their rent only cover the mortgage, not the water bill, not the association fees, not the repairs an maintenance....I was just trying to help them for a while but my husband is disabled and I am the only provider.... thats what I mean... why did they have to go and spend almost 4000.00 on lawyers when all they needed was discipline and maybe an extra part time job. She doesnt work, he only work 40 hours a week.... Hey maybe I am wrong..what do I know...maybe I am the one that is stupid here ...
This is an anonymous site, my real name is not even Elaine... so nobody knows who this is and who the renters are, by no means do I want to insult them or past judgement, just fact.
I dont understand why you think I am so bad, when all I was trying to do was help them to my own expenses!

 

[Sebaatian]

Your tenants sound like FUN!

You sound like a bitter hippocrate. Like before- you bad mouth them for spending, while at the same time you are complaining in here to the world about your financial problem? You are a mess. If you can't afford that rental- why do you have a rental? Hmmm. You sound like a frivolous spender that wants everything and whether you can afford it or not. Catch my drift? Shame on you.