It is not always hunky dory as a landlord. You cannot expect to have everything going your way with zero vacancy rates and all tenants paying on time. Also, you cannot expect all your tenants to be well behaved.
Although we do put tenants through a very strict screening process, in the end, anything can happen. There are bad tenants who can cause damage to your property that you realize only when they have moved out. It is much better for you as a landlord to be prepared for the ups and downs of this profession.
Renting your property can sometimes be a risky business. While the majority of tenants turn out to be well behaved, sooner or later you will encounter a tenant who will leave your property in pretty bad shape.
Not only do such tenants fill your property with trash but also cause a lot of damage before moving out. You will feel as if a storm has blown through your property when you visit it after the tenant has moved out.
Rather than sitting and doing nothing, here are three of the best options you should take when facing such a situation. Keep in mind that there is a very small chance of this actually happening due to our screening process. However, it is always good to be prepared.
Carry Out Repairs Immediately
It does not benefit you to sit with a bitter taste in your mouth about what your tenant did to your property. It makes more monetary sense to get things moving by cleaning and repairing your home right away. Repair all the damages to make the house attractive for potential tenants once again. This is the best way to recoup all your losses as you can rent out your property to a new tenant and start earning rental income once again.
Repair the Home To Sell It
Cleaning is inevitable as you cannot take the next step without clearing all the trash. If you think this is the last straw and cannot take it in future, it is a good idea to rehab your home and sell it at a profit to recover your losses. However, you need to do all the math regarding cost of repairs and the selling price before making this decision.
Sell The House As Is
It can be a hard pill to swallow even for the seasoned campaigners when they think of all the hard work and money that is required for the rehab of the home. If you think the tenant has really left the property in very bad shape, you can take this step of selling the house in as is condition.
Please keep in mind that there is a very small chance of this actually occurring as we have your tenants go through an extremely thorough screening process before they are approved to sign the lease. We just want you to be aware of what COULD happen. Most likely your house will be in very good shape when the tenants move out and will need only a basic clean up to get it prepared for the next tenant.
If you have any questions at all regarding our screening process or anything else that we offer, click here!