Deepak Shenoy, the CEO, and founder of Bengaluru-based Capital Mind, revealed on Tuesday that his family had to fight with evicting a defaulting tenant from their city apartment. He stated that his mother had to go to court at least once every two months for two years to get the tenant evicted from their home.
Shenoy spoke out about his experience after hearing of an elderly guy who was able to get rid of failing tenants after a four-year battle. I’ve personally experienced this, he tweeted.
Personally went through this…Mom went to the court house for two years once every two months to evict a tenant who refused to pay rent after the first month. He also filed a case saying henchmen used just like that. Had done this with other people too.
It took two years to get… https://t.co/cDTHu1DsGq
— Deepak Shenoy (@deepakshenoy) July 25, 2023
Mom spent two years going to court once every two months to evict a tenant who hadn’t paid rent after the very first month. He also brought a lawsuit, claiming that henchmen were employed in this way. I had already done it with other people.
According to the Capital Mind CEO, it took the family two years to obtain a court order, and an additional three months to evict the tenant. “The fraudulent renter left on the last day before the cops arrived,” he explained.
Deepak Shenoy claimed that following the incident, his mother sold everything but one of their possessions. “Mom then sold all of her real estate and is now living in her one and only home. Even a chunk of our land was occupied by goondas before being settled. We can’t make real estate work for us. We have made more money in markets with a lot less hassle.
Shenoy responded, “No,” when a fan inquired about whether they eventually got their outstanding rent from the tenant. Chased him for the following year, including sending officers to a new residence he had rented; however, it turned out that another team of officers had arrived the day before, and he disappeared once more. We searched extensively before finding him twice. He was being chased by a second defrauded woman.
Shenoy said that his experience wasn’t typical and reassured a few others that the family had made more money through equity than they could have from real estate. He tweeted, “The legal system is the problem.”
The majority of people are good, but there will always be a few difficult-to-find rotten apples. As long as the judiciary is efficient, it won’t be an issue to rent to them.
Several Twitter users had similar experiences in response to his remark.
“I do have some tenants who have said they won’t be moving out. Since they have been there for a long time. The boldness! ‘I can’t afford to pay the rent,’ the tenant of a family member’s property stated.
This was her only source of money because she was a widow. MoneyTalkWithL (@LarissaFernand) commented, “She had to evict them on the legal side.
According to @AakashMathai, another Twitter user, “In my dad’s instance, it was 10 years. He would take time off to travel to Bangalore when we were stationed on Air Force facilities up North only for the judges to grant countless adjournments. First, the renter claimed that he had been intimidated by “military might.”