Personal Bankruptcy Tenant files Chapter 13

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pbe2003

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What does a landlord need to be aware of, to protect themselves when a tenant files for bankruptcy? Our tenant has been with us three + years. She is a nurse, & papers indicate she wants to continue lease. I guess so, we are under market rate, trying to help her. Since it has gone this far, we need to help ourselves now. I am leery of being locked in to 350.00 for 36 months. Will we need to get permission from trustee if we want to sell, evict, or initiate an increase??
 
I am not an attorney but I do not believe her BK has anything to do with her lease since it is not an asset she owns.

Why are you under the asumption you cannot raise her rent? 36 months is an awful long time to do a lease, why are you considering that long of a lease?

If you want to help her that is your choice but I would not totally give away the farm.
 
That was what the attorney had put on the papers we received. I guess that is his proposal (to budget her money). We have to appear at a hearing if we want to contest it.
 
That attorney is paid to represent her, it does not mean that what he is putting down is accurate. Nor do I see how you are stuck to a 36 month lease.

Have you bothered to see your own attorney? I fail to see how the landlord should suffer because the tenant is in BK.
 
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