Sometimes problem tenants can make you think “I need to sell my house fast Miami“. Florida’s Magic city’s real estate market has been nothing short of impressive. With gorgeous beaches, a contagious culture of excitement, and incredible weather has helped establish Miami as one of the hottest markets for real estate. As we enter the final quarter of 2020 Miami real estate has remained a strong buyers market something that investors can look to capitalize on. Renting out an investment Miami property is one of the great ways you can look to supplement your income and generate more from your investment. However, it is not always smooth sailing as some tenants can be destructive to your lovely Miami property or simply be blatantly irresponsible with the rent payments. Your Trusted Home Buyer is a professional Florida home buyer, and here is a collection of our tips for dealing with difficult tenants in your lovely Miami home. We buy houses Miami, and all cities around Florida. So, if selling your investment property is of interest to you then check out our website, to learn how we can help you sell the home fast, and you receive a direct, fair cash offer.
Documentation is KEY!
- Documenting everything is the key to avoiding conflict with your tenant and keeping you legally protected. During inspections, keep a written record of the condition of the home and take photos/ videos with timestamps to supplement the evidence. Consider mobile inspection apps for ease and convenience. This is the best way to decrease irrational disputes in charges.
- Have a tenant sign an itemized list of all furniture and appliances in the property. This is a method of legal protection in case a tenant refuses to pay for damage to the property.
Hire a Property manager
- It is tough being the bad guy, and sometimes it’s better not to be. Consider hiring a property manager and relieve yourself from the headache of collecting rent
- A good property managing company will be able to take the most stressful and time-consuming situations off your hands and will deal with tenant screening, rent collection, maintenance, and evictions, or other lawsuits
- Make sure you look for a reputable property management company and one with a range of survives. A good reputation and a robust offering of services help you stay protected.
Dealing with a Bull in a China Shop
Property damage can be one of the most infuriating things a tenant can do to your wonderful Miami home. Here are a few tips of advice that can help prevent it from happening:
- Tight well-written lease agreement: carefully spell out maintenance expectations and regulations
- Routine Inspections: Before the tenant moves in, conduct a detailed documented inspection of the property. Post move-in conduct routine inspections and compare the condition of the home. Address poor maintenance or damage to your home sooner rather than later.
Dealing with a Day late, dollar short
Late or non-payers possibly make it to the top of the list of the difficult tenants. To prevent some financial havoc, here are some tips to deal with these kinds of tenants.
- Rigid policies: write firm rent payment policies and ensure your tenant knows you intend to use them if required
- Automated Reminders: Sometimes accidents occur and it’s completely understandable. Consider an automated rent reminder system to inform tenants if they miss their due date. The simplest things can sometimes see off the issue!
It is critical that when you are dealing with problematic tenants you be calm, objective, and rational. Blowing your top or becoming hot-headed can make the situation much worse than it should be.
- While an investment should be treated as a business, it is important to have empathy and understanding and accepting people. Employing the “kill them with kindness” tactic can help difficult tenants understand your perspective and change their behavior. Furthermore, minor infractions from good tenants in a tough spot do not need to be dealt with harshly. It is often better to forgive and forget than potentially lose a great long-term renter. Give people chances!
- If all else fails, unfortunately, it may be time to start the eviction process. The eviction process should be the last resort given how expensive, stressful, and time consuming it can be.
- Familiarize yourself with Florida’s eviction laws and processes. Do not take anything into your own hands. Follow the established procedure to the ‘T’, you need the court to be on your side.
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