SDlandlord
Junior Member
What is the name of your state?What is the name of your state? California
Tenants in our single-family residence failed to report serious defects and caused substantial water damage. Subsequent to termination of their tenancy, we sued them for the damages and lost rent during the reconstruction. At court ordered mediation, their attorney admitted defeat and they agreed to a mediation settlement of $15,000 to be paid over 5 years.
Since this is basically an unsecured loan it seems appropriate it be included in their credit history if for no other reason than to reign in their spending and insure the payment of this debt. Other landlords would also have to opportunity to find out whom they are dealing with.
There is plenty of information out there about the confidentiality of the mediation process, but not the confidentiality of the settlement itself.
This mediation settlement is enforceable per California Evidence Code 1123. The tenants are NOT currently in default of the payment schedule.
Can or should this debt be reported via our landlord association to the credit reporting agencies?
Experiences with or insights about this topic will be greatly appreciated.
Thanks.
Tenants in our single-family residence failed to report serious defects and caused substantial water damage. Subsequent to termination of their tenancy, we sued them for the damages and lost rent during the reconstruction. At court ordered mediation, their attorney admitted defeat and they agreed to a mediation settlement of $15,000 to be paid over 5 years.
Since this is basically an unsecured loan it seems appropriate it be included in their credit history if for no other reason than to reign in their spending and insure the payment of this debt. Other landlords would also have to opportunity to find out whom they are dealing with.
There is plenty of information out there about the confidentiality of the mediation process, but not the confidentiality of the settlement itself.
This mediation settlement is enforceable per California Evidence Code 1123. The tenants are NOT currently in default of the payment schedule.
Can or should this debt be reported via our landlord association to the credit reporting agencies?
Experiences with or insights about this topic will be greatly appreciated.
Thanks.