Savvy landlords will need to learn or re-learn how to file evictions AND collect their money in the coming days. Many landlords know how to get the judgment, but NOT how to get the money!
Here are five quick tips:
- You CAN run the credit report of former tenants (who owe you money) every six months to get possible updated information.
- You SHOULD record the judgment, usually in abstract form at your local recorder’s office (deeds, weddings, etc).
- You CAN order the court or judge to order an examination of their assets. (They raise their hand and swear in front of the judge, and then you take them into a side room and ask them questions on their debts AND assets).
- You SHOULD file a wage garnishment if they are employed.
- Plus, recording the judgment if they have real estate will SURVIVE a Bankruptcy as the judgment is recorded as a secured judgment and if or when the property is sold or refinanced, your judgment will get paid off.
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