On our blog today, we are taking a few moments to talk about three specific events that tell you it’s time for an eviction. Hopefully, you will have a better understanding of when it’s time to get rid of your problem tenants.
It’s pretty clear that you need to evict a tenant who is not paying rent or is slow to pay every month. Landlords often ask us how long they should wait to get the process started. It’s critical that you start right away. Don’t wait 30 days to pursue an eviction. If rent is due on the fifth of the month and it’s not paid on the sixth, send out a letter letting the tenants know that the lack of payment won’t be tolerated. If you do get to an eviction with the tenant in this situation, it’s important that you understand whether you should be taking any money from them or not. If they want to pay half this week and half next week, it’s not a good idea to immediately agree. This can mess up your eviction process and you should only accept partial payments if the tenant really wants to make the situation whole. Ask yourself if this is a tenant you want to continue doing business with, or if it is better to cut ties.
Breaking Lease Terms
Another good reason to evict is when your tenants violate the lease. Maybe a tenant has moved in an additional person or a pet that was unexpected and not approved. Again, you must take action immediately. Let them know you are aware of the situation and that they need to remedy it, or action will be taken. It’s important to be consistent. If you have a couple of units or multiple properties, be consistent across the board or you’re opening yourself up to liability.
Maintenance and Behavior Issues
This reason for eviction is a little more subtle. Perhaps your tenants are not maintaining the property the way you expect them to. It’s possible they are not changing the furnace filters regularly or keeping the gutters clean. Maybe they are a nuisance in neighborhood – they could be throwing parties all the time and generating police activity. This will affect the value of your property and your standing with the neighbors in your community. It’s important that you detail your expectations up front. At Indiana Property Management Group, we have tenants who are moving into a property sign a six-page maintenance addendum that spells out their responsibilities.
Property management does not have to be scary. Real estate is a fantastic investment and can transform your retirement. Partnering with a professional property management company can reduce your stress level and keep your investment more profitable.
If you have any questions about evictions, please contact us at Indiana Property Management Group, and we’d be glad to tell you more.