This is going to be the ultimate case study in how to collect your owed rental money using a paralegal, for a number of rent arrears, a guy who moved out after his short term rental scheme failed, the guy who ripped me off by faking e-transfers. For privacy reasons I am not using their names even though I would love to. (I don’t need another stupid lawsuit)
The wisdom of countless landlord preceding me is just to move on and let it go, but actually with arrears increasing all the time and people who make over $100K per year strategically defaulting on their debt the last few months before they move out, I’m really unhappy with that answer.
In the past, when I worked for a building, I went through all kinds of dusty boxes and filed over $150K of rent arrears and over time we got a lousy 18% back. However all I did was fax them over and the entire thing didn’t require a whisper of my time. $27,000 of lost money collection is nothing to sneeze at but I’d like to do a little better.
Most of these are rent arrears and we have photo ID and employment information and credit score is OK. Some of these are legal clients who hired me because they had a bad tenant, so clients did not have some of the documentation in place.
I don’t know how this will turn out, over and over I’ve heard don’t throw good money after bad, but I’m confident that we can recover a lot of this money for landlords and I’m willing to try.
Mechanisms for getting your money include…
- Seizing a portion of someone’s wages
- Seizing their income tax returns
- Seizing their bank accounts
- They just pay you because you’re a pain in their butt.
That’s not all but there’s a few ways to get our dough back.
If you are a landlord in Ontario and would like to try to collect on a Landlord & Tenant Board Order and be added to this case study, please contact me and I can add you to it. I’m using Masoud who is a licensed paralegal and he seems very competent and professional but it’s way too early to tell how this project will all turn out. That’s the whole point of doing this… to find out how much of the money owed that will be recovered and develop systems and processes to keep my clients safe from predators. To reach Masoud directly to try to collect from your tenant (You don’t need to be added to the Case Study but more data is better) you can call him at 416-880-4600 or email him directly at quicklegal(at)gmail.com.
I do everything I am “supposed” to do to protect my clients during the leasing process. Tenants have verifiable employment, decent credit, co-signers if required, photo ID, proof of income. However this is not a perfect world and even with all these protections in place, when you rent hundreds of apartments/houses/condos per year, you are going to get some apples. Some of those apples will get divorced, go crazy, strategically stop paying rent and generally do things that will cause the landlord to lose their money. I think this increases costs for everyone and causes landlords to sell their properties and get out of the business.
Anyhow I’m actually really forward to being able to get accurate information for landlords, is the money lost gone forever or is it collectible for those landlords willing to do the work to collect?
So far, I’ve sent $81,000 for legal collection and spent about 4 hours of my time with the paralegal and about another hour formulating this blog post.