"How do I get out of this situation...?" - Posted by Ty

Posted by Ty on July 19, 2001 at 24:34:09:

I was order by the court to refund a tenant security deposit of $2,000 by 7-29-01 which I don’t have and then the tenant would move out 8-01-01.

The tenant has been in the property since 5-01-01 and I haven’t received any rent. I thought for sure I had open in shut case tenant not paying her rent and automatic eviction.

But to my surprise I didn’t know you had to have a renter’s CO I had the CO from the county but wasn’t good enough.

The reason I don’t have the security is because I paid the mortgage with I thought was only right.

This is my first investment property and I’m already in the rear.

Because of this I will lose $6,000.00 that I don’t have or can’t afford to lose. $1300 a month for rent and giving the $2000.00 Back

I have a few people already wanting to rent the property but nothing could be done until the tenant vacates.

What do I tell the new inquiring tenants I need your security deposit early so I can use it to get the tenant that’s in property out.

Do I run an ad to Lease the property and try to get more money to put this tenant out?

One of the inquiring tenants is a family member and I don’t want to rent to family, but she willing to give me the $2000. And let me give it to the tenant in there now.

I don’t know what to do I’m stuck there must be other alternatives. Any help would be greatly appreciated.