<![CDATA[Waterfield Property Management - Blog]]>Sun, 23 Feb 2025 17:11:41 -0600Weebly<![CDATA[Evictions in New Hampshire]]>Fri, 27 Oct 2023 14:08:29 GMThttp://www.waterfield-re.com/blog/evictions-in-new-hampshire
Understanding the eviction process and taking the appropriate steps in a timely manner is critical to obtaining the highest NOI possible for a property. For this post, we will focus on monetary evictions. 

Step 1 - Post Eviction Notice & Demand Notice - These are two separate notices that the state requires but can be posted at the same time. Basically they are left at the tenants home or handed to them in person. You cannot move on to step #2, which is making a court filing, without taking this step and waiting the appropriate amount of time. Because this is a relatively simple step, we think it makes sense to post these if a tenant has not paid by the 4th of the month. Typically, our leases impose a $50 late fee if not paid by the 4th. We find that most tenants immediately pay upon receiving this notice, and thereafter are much better about making a timely payment on the 1st of the month. As for the time that you must wait to take the next step if they don't settle up, NH statute calls for 7 days for non-payment of rent, but the CARES Act (which is somehow still in effect) requires 30 days for most apartment buildings. That's why it's critical to get this clock ticking asap by posting these notices immediately, and why it's important to have a property management company like Waterfield PM who can handle such on your behalf in a timely/organized manner.

Step 2 - Filing the Landlord Writ - This is the formal court filing to claim Tenant has not paid rent. You file the appropriate paperwork at the courthouse, and then deliver the paperwork you receive from them to the local Sheriff, who then serves the Tenant. The tenant then has seven days to respond to the complaint by making their own filing, otherwise the Landlord gets a default judgement and can move to step 3. If they do make a filing, a court date is set for a hearing.

Step 3 - Writ of Possession - if you are able to either get a judgement from the judge at the hearing, or a default judgement due to Tenants lack of response to the Landlord Writ, then you can file for a Writ of Possession. This is your legal right to take the space back. You file this at the court, once again deliver to the sheriff, and they go to the Tenants apartment to remove them.

In my experience 90% of the time the situation is resolved prior to Step 3. Either the tenant pays or leaves on their own. With that said, we couldn't stress enough how important it is to take Step 1 as soon as the issue starts.

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<![CDATA[Timely Rent Collection]]>Mon, 11 Jul 2022 00:11:49 GMThttp://www.waterfield-re.com/blog/timely-rent-collectionOver the years, we have come to learn that a fair but strict rental payment policy is a key to success. Making exceptions for late payments sets the wrong tone for the landlord-tenant relationship. At Waterfield, our management system sends tenants an email that rent is due 10 days in advance of the month, and another on the 1st of the month as a reminder. If not paid by the 3rd, a $50 late fee is automatically applied. If not paid by the 4th, we almost always proceed to the next step of posting a Rent Demand/Eviction Notice on the Tenant's door to initiate the eviction process. 90% of the time, rent is paid shortly thereafter and the eviction process never proceeds. However, taking this step early 1) protects you from additional downtime in the off-chance it does proceed to an eviction and 2) sends a clear message to the Tenant that it is expected that rent is paid on time. With that said, this abidance by the rules of the lease is a two-way street and is only fair if the landlord/property manager displays an equal commitment to respond to maintenance requests and other communication as fast as possible. Again, our use of a property management software to receive, categorize, and delegate maintenance requests is the key to handling tasks in a timely manner. When you do so, the tenant has more respect for you as the landlord/manager, and in our opinion is more likely to return that respect by paying the rent on time. Employing a 3rd party property manager like WPM is a great way to relieve yourself of these two administrative burdens while also protecting your financial interests. ]]><![CDATA[Welcome to Waterfield]]>Sun, 28 Nov 2021 19:24:06 GMThttp://www.waterfield-re.com/blog/welcome-to-waterfieldAllow us to introduce ourselves! We are an apartment building and condo association management company in Massachusetts and New Hampshire. We offer a menu of services, or the complete management of your residential rental investment property. Starting in 2014 with a single two-family in Laconia NH, we now oversee 20 units. If you're interested in discussing our services, please email sam@waterfield-pm.com]]>