I responded to a post earlier stating my tenant always paid her rent on time (well, within the two week frame). Well, my tenant has bounced her rent check (did it last month, blamed it on a snafu with her transfers from savings to checking, paid in cash two days the rent plus the fee my bank charged)again.
She left a message on Monday stating she wanted to use the security deposit as rent and then pay late next month's rent. I said the first is not an option. I left a message (Monday) and said I needed to know what portion of rent could be picked up Tuesday. No return message - haven't heard from her at all. I did leave another message today stating that I need to hear from her today.
I paid off tons of bills, made a dent in the credit card debt, was feeling really good about things. This throws a monkey wrench into my plans.
My husband's salary covers our regular expenses - however, I didn't account for *no* rent and got our checking account down to almost nothing.
I WILL NOT use my credit card to cover expenses. I have weaned myself of using it for "points".
DH gets paid next Friday - he will also be paid for a painting apartment job he's finishing this weekend. I will have enough for the mortgage payment and all bills. My challenge is to get through to next Friday (eight days) on the cash we have (when all checks clear I will have $26 in the checking accout).
I have $100 cash - I have budgeted $30 for gas ($15 for each minivan as both are on E) and the $50 for groceries. My cupboards are somewhat bare - but I'll be hitting the buy one, get one free at the one store and will hit Aldi's for all else.
I'm driving today (not tomorrow) so will hit the library and kids consignment store (drop offs)
Lesson from this: Never completely count on someone else's money to add longevity to your budget.
I do have a $1000 EF and short-term savings of 3 months living expenses. This doesn't exactly qualify as an emergency, just a reworking of the budget pots.
My tenant can't pay her rent! Need to rework the budget -
June 19th, 2008 at 04:00 pm
June 19th, 2008 at 04:12 pm 1213891952
June 19th, 2008 at 06:31 pm 1213900303
June 19th, 2008 at 07:35 pm 1213904124
As soon as people move in, you have to give them a sheet with rules on it and make them check each one off and sign it. Included in their is what they will have to do in order to get their deposit back. My son even had to replace burned out bulbs and stove plates.
Good luck. It's not easy being a landlord.
June 20th, 2008 at 07:13 pm 1213989215
January 4th, 2009 at 01:31 am 1231032709
January 4th, 2009 at 03:12 pm 1231081961
The important thing is to get the ball rolling as soon as possible because they may use that deposit and more of another month to move.