SKIPS AND EARLY TERMINATIONS AT A HIGH?

I just discovered another skip!!! Normally pays on time; first time late. Noticed the newsletter was still in the door when I took the late letter down. Just checked and it's empty. No keys!!

I have 47 units. This is my 9th move this year and all but 2 broke their lease!!!! Is it just me? This is the worst I have seen since 2008!

I'm renting at the highest rate we have ever had, waiting list since April, so it will be re-occupied quickly, once I get possession.

I'm in the southeast. Is this a new trend? Don't people honor their contractual obligations anymore?

It's not a trend in suburban Chicago. If it's like 2008, that's bad--that was a crazy year.

Not seeing that trend among the properties I work with (well...one property had a high eviction rate for a while but it's because they ignored the scoring recommendations and accepted applications for those (all of) who were declined when credit was run)

Do you do an eviction check with your background screening?

I was having a great year until just this month! 3 skips! So far I have one of them leased, but still two to go. In May...I had all my full rents in by the 7th but June...I had an inordinate amount of late rents this month. So..I have 3 full rents out and two of them are skipping. The first skip turned his keys in the day after I posted is Notice to Vacate for non-payment of rent. And he actually expected to get his deposit back?

Besides turning them into the credit bureau...I wish we could file small claims on them. After all...it's a breach of contract where money is lost! Is this a possibility?

I know what you mean, I have had several as well just move before lease it thru. In the little Rock area.

We always get occasional skips, but June/July was crazy as for as movement.

You can file papers and take them to court. The problem comes when you're trying to collect because you are the collection agency. If the amount is worth it, you can try wage garnishment (just be aware of the law in your state). The absolute best way to cover yourself is to properly screen and collect the security. If you're aware, at least you can put it back on the market fast.

Skips have gotten worse on our properties as well. Luckily, we have a waiting list and can fill it.

This topic is of specific interest to me. I am new to rental properties as a maintenance person for a company with 250 units. I have been with them for almost 5 months now and when I took the job the owners told me they have an average of 4 to 5 move outs a month That number has been off by twice that amount. We have actually had more like 55 or so in the time I've been with them and a very large percent has been skips. I am not management so I do not know what things have been done nor what is being done other than they are doing a little up grading to some of the units adding washer, dryer and microwave hoods to some of the townhouses of the properties. I believe in the area I am in there may just be a lot of choices for folk but I honestly believe its that whole thing you see in the new everyday the world is changing the instant gratification thing with these next generations. When they decide they don't like some place anymore then they just leave and since they are not connected they really don't concern themselves about things like paying what is owed and honestly it's just seems a waste of time for the owner/landlord to pursue trying to get their money. So the system help to keep this going in my opinion. The owners for my units own them free and clear so hurting their pocket books is about all this is doing since they are pretty well to do but I do feel the affect of this in the number of units I am have to turn over/make ready to rent.

As background, I work in the rental solutions for TransUnion. Consumer behavior changes (economy changes, culture changes, markets change, etc.) and it would be my suggestion that you should be updating your tenant criteria every couple of years. The best thing you can do for yourself and your company is to prevent these types of people from entering your property. Consult your screening provider and see what options they have to accommodate these changes, if they have any, or start shopping around. Remember, screening is an industry standard for a reason and the number one thing it should be doing is reducing your risk. It is your first line of defense. If you are seeing a higher incidence in skips that means you need to tweak the way you are screening. An easy way to accommodate changes is utilizing scoring models that are updated every couple of years. Not all scoring models are updated and I'm not going to call anyone out, but some of you are most likely using outdated scoring models and if you are using a scoring model some of them are tailored to different industries and you really want one that is tailored towards the multifamily industry. If you want tips and tricks let me know. I am in sales but I like to take a non-sales approach and knowledge is paramount to anything which is why I like this forum. I get to learn more about the industry through multiple perspectives and I can convey my own knowledge and experiences.

Hello I just wanted to know can an Apartment Complex/Manager SKIP/confiscate your Unit/Property without a EVICTION NOTICE OR COURT DATE? Is that a LAW