Owning a rental property is an excellent way to generate extra income for you and your family. However, if you are faced with bad tenants, your wonderful investment can quickly turn into a nightmare! In our latest post, we will provide you with our favorite tips for dealing with bad tenants!
Do you own a rental in Orlando? Are you worn out from managing tenants who are late with rent, or who damage the property? You’ll understand how quickly you can regret owning a rental if you have ever had tenants like this. Issues can usually be solved on your own, without involving outside parties.
How to Deal With Bad Tenants in Orlando
Try To Be Understanding
While your investment(s) should be treated like a business, there is a time and place to be human. Tough situations can fall on good people. If you have an excellent renter with only one minor infraction, such as being late on rent, you don’t have to give the highest penalty outlined in the lease. It’s best to overlook the problem instead of possibly losing a great tenant.
Stick to Your Guns
You can only be understanding to a point. Once it goes beyond that, you might find that you are dealing with a tenant who is looking for ways to skip out on rent or repairs. If you let someone pay rent late once, they are likely to want to do it again, and again, and again… Be firm with your policy regarding rent payment. While there are situations where you can be flexible, simply not having rent isn’t an excuse. This can be one of the most difficult parts of being a landlord and why many investors hire a property manager to collect rent on their behalf.
Every interaction should be recorded and saved. Write down conversation notes with a time and date, and save all texts, emails, and any written contact. Take pictures in situations where damage has occurred or repairs are needed.
Hire a Property Manager
In addition to collecting rent, a property manager will: screen prospective tenants, take care of maintenance, advertise your rentals, handle tenant issues and complaints, and even deal with the eviction process on your behalf. If you are managing multiple units, hiring a property manager will save you time and headaches!
Eviction is a long and stressful process that varies state to state, and hopefully, you will never have to go through it. First of all, you need to have a legitimate reason to ask the tenant to move. They need to have broken the lease or be behind on rent. At NO point are you allowed to take matters into your own hands, even if they are causing property damage! You need a court order to remove the tenant’s belongings or change the locks. If the courts see that you have done everything right, they will have no choice but to side with you. You will need to provide your tenant a formal notice of eviction, including the amount owed and the date they need to pay by if they want to stay. Place it on their front door and send certified mail so you can prove it has been received. You will have to file with the courts and go through a hearing if the tenant still refuses to move. At this point you will be glad you documented everything!
There are few bad tenants out there. With careful screening and a solid lease, you can ensure a peaceful living environment for all of your tenants!
Are you dealing with bad tenants in Orlando? We can help! Send us a message or give our office a call today! (407) 852-5400