Four Points New Monthly Newsletter

Important News On Your Investment!

Hello Fellow Investors!

We have some great news for all of our owners this month! Effective 5/1, we will be part of the Experience Rent Bureau network. We will be reporting rental payment history to Experian on behalf of the entire portfolio we manage at no additional charge.

Quick overview of benefits

● Accept better quality residents

● Improve bad debt recovery by sharing outstanding balance info within 24 hours of a

resident leaving, preventing them from getting a new lease until they pay you back!

● Stop residents from skipping by sharing lease begin and end dates

● Incentive for residents to pay on time knowing this info is being reported

● Built-in amenity for residents- give your resident the opportunity to build their credit

by paying their rent on time (competitive advantage, great marketing, and retention tool)

We are excited about the benefits for owners and residents with this program. Monthly rent is most likely the largest expense for our residents and now we can offer a positive and immediate benefit for on-time rent payments.

Facing Eviction during Covid & Post Covid? Read Below

Key Takeaways

● How eviction cases are being heard in the housing court now

● The reality of the situation

● What we are doing about it

We have a lot of clients who are facing a new eviction case or are curious about how long an eviction is taking now. For those that have experienced the court process pre Covid, I urge you to read as things have changed!

Disclaimer: This is our experience & opinion only and we recommend that you speak to an attorney as needed. We work with a number of specialists and are happy to make referrals. 

How eviction cases are handled currently

• During COVID, the first court event after a landlord files an eviction case is called a First Tier event or Housing Specialist Status Conference in Housing Court (or Case Management Conference in District Court)
•  The First Tier event is scheduled with a housing specialist and is where the parties try to reach an agreement to resolve the case (“mediation”) 
• First Tier events are currently being held on Zoom only

Estimated Time and breakdown below:

• 1st Tier one event: Time for hearing 2-3 Months.
• 2nd 1st Tier hearing: If continued due to tenants' application for rental assistance, add another 2-3 months.

We have seen this get continued 2-3 times depending on the situation

Total Time for 1st tier: 3-6 Months (could be longer if the rental application gets delayed)

Most cases DO NOT settle at the first court event**

 • If a case is brought for non-payment of rent and the tenant has a pending application for rental assistance (RAFT, ERAP, or another program), the case is typically continued for another First Tier Event to allow time for the application to be processed

What happens after the First Tier Event?

If the case is not continued for another First Tier event or is not settled, the case will be scheduled for a Second Tier event with a judge for a motion or status hearing or for trial 

• The Second Tier event could be scheduled as soon as 4 weeks after the First-Tier event but it has typically been about 2-3 months out.

 • If the tenant requests a trial it can be another 3-6 months before that is scheduled. 

Total time for Second Tier and trial: 5-12 months

Total Time for entire Eviction Process: 1-2 years and a lot of attorney fees

What are we doing to help our investors? 

By bringing in the right residents from the start of the tenancy we are able to save the majority of our clients from having to deal with evictions. You can review our screening process here. The Majority of our active evictions are from “inherited tenants”. This means they were living at the property when we took over management. 

• Working proactively with residents when they fall behind on rent. We have brought in over $100,000.00 in funds from RAFT so far this year for our clients. 
• Providing protection in our leases: Our leases place the responsibility for attorneys' fees and late fees to be paid by the resident caused by an eviction. 
• Requesting rent increases that are consistent with inflation and advising owners on potential losses in certain situations
• Always building our network of real estate-focused attorneys and negotiating preferred pricing and services

Recommended Articles

Interested in No More Federally Funded Rental Assistance Program Applications ? 

Interest rates hiking? Click the link below to learn why rates are so high! 

Interested of finding out why homes are selling above asking? Click link below to find out! 

Interested in learning how a home sale could affect your taxes? Click link below to learn more! 

Interested in learning about real estate trends in 2022? Click link below to learn more! 

Interested in learning about unexpected cities to invest in 2022? Click link below to learn more! 

Interested in learning about current Renting Statistics? Clink link below to learn more! 

Some Highlights

● Due to low supply and high demand, today is one of the strongest sellers’ markets we’ve seen.

● Sellers can benefit from more offers to pick from, higher home values, and a faster sales process. There’s a reason why 72% of people believe it’s a good time to sell.

● Don’t miss out on this unique opportunity. Let’s connect so you can take advantage of this hot sellers’ market. 

Interested in buying or selling? Click the link below to schedule a 30 minute consultation regarding your investment goals. 



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