Sometimes you just can’t avoid terrible tenants, even if you screen like an ace. The fact is, not all of them come baring red flags.
So what do you do if that nice, quiet woman with good credit ends up having loud, destructive drunks over on a regular basis? Or the family you rented to with a sizable income ends up being consistently behind on rent because one of them lost their job?
You could curse, stomp your feet, and then proceed to worry yourself into a sleepless night.
Or you could take a deep breath and read our tips on 4 ways to handle terrible tenants.
- Put the Rules in Writing
A standardized lease form just won’t do. Having a comprehensive written lease agreement that details all the rules and expectations you have, specific to your property, is absolutely vital. Review the rules outlined in the agreement verbally and then give your tenant a copy.
- Leave Emotions Out of It
You can certainly be friendly with your tenants, but it’s important to remain objective when it comes to upholding the rules. Being human and all, it’s easy to feel for your tenants. But getting sucked into their personal lives can cloud your judgement. You also don’t want to let your anger get the best of you. Stick to what it says in the lease. Be consistent. Stay calm and firm.
- Keep Good Documentation
Unfortunately, terrible tenants often do damage. To help ensure you don’t end up having to pay out of pocket to have things fixed, it’s good to cover your bases by taking a before picture of the property prior to the tenant moving in and an after picture once they’ve vacated. In order for the pictures to hold up well in court, there needs to be a time and date stamp on them.
Also, keep a detailed written record of any lease violations or problems with the tenant. This will be helpful should you need to remove them.
- Hand-off the Problem
Evictions are costly – not to mention stressful. So is paying a tenant to move out, which many property owners end up doing. So if you get to the point where you just can’t take it anymore, it’s nice to have another alternative.
Selling your property to a real estate investor can be a quick and easy fix. Many will buy the property – for cash, mind you – with the tenants still in place. And they do it fast: as quick as seven days. Talk about a load off!
Want to learn more about how selling your property for cash works? Click here to learn more about the process or fill out the form below.