Facing bad tenants in inevitable, no matter how much experience you have. Whether you have been a landlord for 20 years or just now became one; having bad tenants is part of the real estate game. In Detroit, amidst the financial crisis of 2008, many people lost their jobs. as a consequence, they were unable to pay for their mortgages and rentals. This can happen to literally anyone on the marker. Whether you have 500+ rentals in Detroit or just a handful.
Dealing with, these situations is often nerve wrecking and can lead to unnecessary stress, problems in relationships and financial crisis. Bad tenants exist in every corner of the world. Without them, court evictions would not exist. Even with today’s expert help of an attorney, evictions can take up to 90 days or even longer to complete. By that time, calculate the money on damages, fees, violations, court costs, attorneys fees and more that you will be responsible for. All of this while YOU the homeowner are not collecting a single dime from a bad tenant.
How To Protect Yourself From Bad Tenants
Screening is necessary to filter out a bad tenant. You might be in a hurry to move someone in to your home because you find attractive the notion of getting a deposit, first month and last month chunk of change for your rental. After all, landlords are in this business to create a passive income. The problem is that if you move the wrong tenant into your home, it might cost you thousands of dollars to move them out. Screening, background checks, felony checks, and employment checks are crucial to finding the right tenant who can afford their rent, take care of the property and be easy to deal with.
Bear in mind that a simple handshake agreement means nothing today. Without a proper lease agreement, documents that outline the use of the property and its occupants, you are opening the door to a world of problems that homeowners simply do not need. Get references from pasts landlords, from other people who have dealt with your prospecting tenants and find out why they left in the first place. All of this vetting is necessary to make sure you as a landlord in Detroit are getting your fair share and not being conned out of money.
Bad Tenants Will; Violate Lease, Destroy Your Property, and Perform illegal Activities on Your Property
Realize that you do not live with our tenant and it is impossible to know what they are up to while they are living in your home; this is why you need to trust your instincts with each tenant and ask yourself, Do i see myself evicting these people? There is no need to be confrontational or aggressive in any matter, that is what courts are for but realize that approaching things calmly is always the best approach. Stay cool minded and remember that everything can be solved with a court order and a marshal directing your eviction. Talk to your tenant about your concerns and get an understanding on why they ceased on paying rent. is it your fault? something wrong with he home your are refusing to repair? or iis it out of your control that they lost their job, are going thru a family crisis or other variables outside of the real of your control.
If you or someone you know is going thru the nightmare that is having a bad tenant in their rental home in Detroit, consider calling our company. We will buy your home with the bad tenant and we will take care of it ourselves. Our time, our effort, our money.