Financial Security
As a means to achieving financial security, we always go for what is capable of providing us a stable source of income alongside our daily jobs, and renting out our real estate properties has proven to be a perfect fit for that purpose. It has almost become a synonym of financial freedom. However, like every other investment, leasing real estate can provide a hectic and troublesome atmosphere for the landlord with the presence of bad tenant and the most common problem faced by landlords is usually not knowing how to deal with such tenants.
The Tenants
Your career as a landlord can be made extremely difficult with the presence of bad tenants. From situations like late rental payments to damaged property, you as the landlord have every reason to evict such tenants from your property. Some tenant would go as far as arguing every single word that comes out of your mouth, even when you’re being reasonable. It’s impossible to be a landlord and stay away from such tenants.
Most Jacksonville landlords face the problem of dealing with difficult tenants at a certain point in their career, and it isn’t easy. Fortunately, every problem has a solution,Jax Cash Buyers has put together some tips to help distressed landlords go through the challenging situation of a bad tenant.
- Study the Situation: High tenant turnover has never been a good idea for a property investor, in that case, evicting a tenant should be considered as a last option. What you should do is to study the present situation and try to determine whether you can find an easy solution that will suit the needs of both you and the tenant so you can have a good landlord-tenant relationship.
- Always Take Down Records: One of the best ways of avoiding conflict between you and your tenant is taking down records of everything. Though this might increase your workload as a landlord, it will as well decrease chances of a troublesome tenant trying to dispute something with you. The workload is definitely worth the trouble.
- Take Emotions off your investment: When it comes to investing, never let emotions rule your decisions. Sometimes, you should rather take a step back and examine things rationally instead of letting your emotions get the best of you. Be cool and discuss every situation frankly and calmly.
- Communicate: Trying to get a good landlord-tenant relationship can save you a lot of stress in short and long-run. Communication can be the key to a perfect relationship. You can be surprised at the outcome of just having to talk to your tenants, listening to their problems and taking action to solve what you can. Communication can help to get you and your tenants on the same page.
- Hire a Property Manager: Some tenants are usually very hard to deal with, no matter what you do to please them. In such conditions, you might want to hire someone else to have a try, ‘a property manager’. Just think of all the free time you will get that would have been used trying to study and control your tenants.
- Backup your Arguments with Rental Agreements: The rental agreement comes with details of tenant’s rights and responsibilities. Al you need to do is get to it in case you need any reference to your requests.
- Ask the Terrible Tenant to Leave: When you think there’s this particular tenant who’s just so troublesome and not listening to anything you say, you might want to consider asking that particular tenant to leave. While it might be difficult to get a difficult tenant to voluntarily move out, it isn’t impossible. You just need to send them a Written Notice to Vacate. The notice will let them know you want them to leave and they’re left to decide. However, this option won’t always go smoothly and you can’t just force a tenant out without going through the long and costly eviction process.
- Consider the Eviction Process:This should always be the last option to be considered as a Jacksonville landlord. This is a very costly process and you might want to think about it before making the move. Some conditions that might lead to eviction are as follows;
- Failure to pay rent
- Tenant violated lease terms
- The tenant failed to move out once their lease ended
You shouldn’t think of evicting a tenant simply because you two don’t get along. That’s not an option!
