Being a landlord is not always going to be an easy task. Along with the good you will have to deal with the bad. One of those difficult things is what to do with bad tenants. This is something that you learn before things really get out of hand and it starts to affect your property. The last thing you want is the tenant to damage your property. You will have to chase after them to collect these damages. This is not a good situation to be in, especially if they owe you a lot of money.
Below are some problems and possible solutions that could help you in dealing with bad tenants.
Past due rent
Tenants that are current in their rent can suddenly stop paying. While your initial thought might be to immediately throw them and their stuff out on the street, it might be a good idea to look into the reasons they are no longer paying. Maybe they are having some money problems that are for the short term. It is better to find out the real reason for their delinquency rather than assume.
Might serve you well to work with the tenant and provide a mutually beneficial solution. Maybe creating some sort of payment plan can ensure rental income is coming in, rather than having no money at all. Maybe the tenant can move to one of your other properties, where the rent is more affordable for them. The bottom line is to work on a solution instead of dragging things out with a costly court process and eventual eviction.
Violation of lease
If it is determined that any aspect of the lease is being violated by the tenants, it is important to handle it quickly. Sending a written notice and documenting everything will help protect you in this situation.
Having a conversation with the tenant and explaining the lease in detail is also a good idea. One way to handle the situation is to see if something can be worked out that is mutually beneficial to all parties.
For example your lease might say no roommates are allowed, but you find out the tenant does have a roommate. If you go and look into the situation, you may find out the reason for the roommate is to help with the costs associated with the property. You could potentially modify the lease to include having a roommate for an additional monthly charge. This creates a win-win situation. Of course, you want to run a credit check on this additional roommate.
If you do not want to deal with managing tenants and want to sell your rental property quickly, give us a call today! Call us at 240-801-6055 or visit http://landlordsellers.appreciatedpropertysolutions.com