You Have Options When Your Phoenix Tenants Become Difficult
Having a rental income property is a great way to increase your personal wealth and secure your financial future. But there are many issues that can arise when you find that your current tenants are less than desirable. Understanding some of the pitfalls of bad tenants can help you to grasp the importance of a good screening process as well as your options when you are ready to change the situation.
The entire point of a rental property is to generate income. But when your tenant stops paying rent you need to invest some time to learn their reason for nonpayment. If they are dissatisfied with maintenance or have other issues you can settle the complaint and begin to collect the rent that is owed to you. If the tenants do not have the money or has other issues then you need to create documentation of the notice to pay and contact your legal counsel to begin the appropriate action.
If you discover that your tenant has abandoned the property, you might be inclined to pack up the remaining belongings to throw away or to sell but that is not your right in most cases. The tenant has rights to the property and to his or her possessions. Consult your legal counsel to be sure that you are meeting your legal obligation as a landlord.
High maintenance tenants are also a concern as they end up costing you money rather than paying you money for the use of your property. Some will call at all hours of the day or night for non-emergency issues while others will continue to beg and plead for new fixtures, appliances, and even flooring. These tenants are never going to be satisfied and are more work than they are worth.
Tenants can damage your property in many ways. Some will do physical damage which is actually the least of your concerns because it can be repaired. But when a tenant engages in criminal activity in your property, then you have a much bigger problem. First, you must call the police and provide them with as much information as possible. Then, the harder part is to wait until law enforcement has dealt with the issue. You must also respect the rights of the tenant and not get angry and change locks or remove his or her possessions. Contact your legal counsel to be certain that you are following a lawful process to remove the tenant from your property.
All of these issues can appear to be somewhat incidental when you are thinking about the thousands of dollars in rent that you receive each year. But as you deal with more unsavory tenants, you will begin to tire of the distraction and constant turmoil that they can bring into your life. At that point, your fastest and easiest solution is to contact Higher Offer. This real estate investment firm will evaluate your property and make you a cash offer and eliminate the issues of being a landlord. You will not even need to hire a realtor as our buyers will create the purchase documents to save you time and money. Contact us today to learn what your property is worth and how you can be living stress-free in just a matter of weeks.