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Tenant problems plague landlords every day. However, reducing rent to maintain good tenants and evicting problem tenants may not be the best courses of action.
While lower rents obviously affect a landlord’s profitability, evictions are also expensive and can cost a landlord time, money, and resource to conduct. In addition to the basic turnover expenses such as marketing, lost rent, new paint, and appliance repairs, attorneys’ fees for evicting a tenant can be outrageous. Also, a tenant may vent his or her anger by purposefully damaging the property.
Whether you’ve been a landlord for much of your life or you’re preparing to rent out your very first property, it is important to understand that you may need to go through the eviction process at some point during your career. Even if you’re a good landlord and do your best to build positive relationships with your tenants, in some cases, relationships simply sour. But rather than immediately issuing an eviction notice, you may want to try any one of a number of time-tested tips to deal with common tenant problems.