4 Effective Ways to Manage Bad Tenants
The best way to deal with bad tenants is to avoid placing bad tenants into your rental property.
Of course, not every circumstance can be predicted. A tenant who appears to have a near-perfect past record and financial integrity may morph into a nightmare during the lease agreement.
Many tenants pay rent late. Many others are careless, damaging your rental over the long-term. Some other tenants are argumentative, taking issue with almost every word that comes out of your mouth.
Though dealing with bad tenants is bad enough, there are concrete steps you can take to ensure the situation doesn’t get any worse than it needs to.
1 – Stay Calm
There’s something to be said about keeping calm under pressure.
Your tenant may be giving you a headache but, if you don’t stay calm, you may end up saying or doing something very damaging – perhaps against the terms of the lease agreement.
For example, there are situations in which irate landlords enter the property and remove the tenant’s belongings – a clear breach of the rental agreement.
By staying calm, it ensures to make rational and sensible options when dealing with bad tenants.
2 – Always Keep Documents
Successful property management means keeping records – of everything.
With everything documents and signed, there is limited scope for manoeuvre for the bad tenant. You have the evidence to hand to demonstrate where and why the tenant has gone wrong and, if necessary, to prove that the tenant violated the terms of the lease and should therefore be evicted from the property.
Yes – it involves more time and effort, but it’s worth the time investment.
3 – Keep the Upper Hand
Always keep the upper hand.
Treat the landlord-tenant relationship in the same way as any other. In other words, act in a manner that you would expect if you were the tenant. If the tenant is experiencing substantial maintenance difficulties, you should act swiftly and decisively to resolve that issue on their behalf. Always put yourself in the tenant’s shoes and see things from their perspective.
Of course, there are pragmatic reasons for this approach.
It means the tenant is more likely to respect you and the rental property, whilst actively reciprocating the good rapport you have showed them.
Keeping the upper hand also means not over-reacting to small events. You may have had a bad day and the last thing you want to hear about is the latest tenant complaint. You may be tempted to react disproportionately. Again, this can act against your interests in more ways than one.
4 – Hire a Property Management Company
Of course, one of the easiest and affordable means to deal with bad tenants is to hire a property management company.
A property management company has the means and ability to immunize the property against any risks. In reality, this means procuring the very best tenants through the most rigorous tenant screening process. It also means handling late rental payments in an effective manner and, if necessary, to evict the tenant quickly and effectively and restore the income stream of the property.
In many respects, then, a property management company can end up saving you far more in the long-term.
Triumph is the leading Las Vegas property management company. Check back to our real estate blog soon for even more great tips and tricks on how you can manage bad tenants the right way.
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