Tuesday, March 31, 2015

Don't Deal with difficult Tenants in your Rental Home!


Dealing with difficult tenants


 Now that you have moved in your tenants and completed their inventory of maintenance fixes, the rental honeymoon begins! Or does it?   It depends!

Difficult tenants are a problem for many landlords, so don’t let your next troubling tenant catch you off-guard. Even the best property management companies run into tenant issues. Its important that you do everything you can to avoid the big ones since tehy can leave you on the hook for several months of rent and extensive damage to your home. Here’s how to stop a potentially bad situation from happening as taken from KevinKirkwood, broker and founder of top rated KRK Realty and Management, a Phoenix area property management company:

1.    Establish Rental Rules:
Every tenant will likely be late once or twice in their life on rent, some things happen. How you deal with late payments will set the tone for the remainder of your rental agreement. Having rules that you follow will help keep your relationships mutually respectful. Explain your rules during the showing and the move in – be sure to point out your late fees and payment schedules. There’s a difference between being a push over and being flexible. If your tenant needs to change the rent payment to the 6th  instead of the 5th because of their pay schedule, that’s flexible. If the tenant wants to pay you this month’s rent, next month – that’s unreasonable. Working with a an experienced property manager in the housing market like this Phoenix Property Management Team, is the key to knowing the difference between a onetime error and a long-term record of poor payment.

2.    Know your Landlord Rights:
Evicting a bad tenant is a long, drawn-out process and landlords can be held accountable for not following the correct procedure – if you need to evict a tenant it’s best to consult a professional. While the legal system is very clear and can render a verdict within 2 weeks of the start of eviction the battle will likely require multiple trips to the court and your tenant can ask to delay the hearings – all while continuing to live rent free in your home. Working with a property management company like KRK Realty and Management removes many of these concerns as they are able to evict tenants on your behalf.

3.    Work with a Professional Property Manager:
 In addition to having access to a large pool of qualified renters who will take care of your home; a professional realty management company like KRK Realty will be able to assist you in renting, up keeping your home, and if the worst occurs - evicting your tenant. Property management doesn’t have to be a mystery – the low cost of using a professional service will save you both time and money when you’re stuck dealing with difficult tenants.