Frustrated Landlords

We encounter and work with a large number of people that are frustrated and unhappy with being a landlord. If you are among the frustrated landlords, then understand that you’re not alone.The purpose of renting out a property is to get a steady amount of income every month without having to work. For many landlords, rent is their only source of income but some appear to be very unhappy with their situations. Most situations involve bad tenants, maintaining the property or just dealing with the daily or weekly demands of being a landlord.

Let’s take a closer look at some of the troubles faced by frustrated landlords:

Late or No Payments

We understand how frustrating it can be to not get the rent on time or receive no rent at all. You also have bills to pay and expenses to meet. Every renter has some kind of excuse. Some are genuine but most are trying to take advantage of your generosity or are just gaming the entire rental system.

The most important thing is to be careful when selecting a tenant. Only rent to someone that you’ve vetted through a background check or at the least check employment and personal references. The due diligence up front can save you time, frustration and energy in the future. If the rent arrives late levy a late fee immediately. This usually motivates tenants to make payments on time. Add a ‘late surcharge’ clause in the lease agreement so that there are no issues later on. If you don’t have a formal lease draft one immediately and have the tenant sign. Basic agreements can be found for free online. You also have the option to file a legal complaint, kick out the tenant, or ask for a few months of advanced rent.

Property Damage

Very few tenants take care of a rented space as if it is their own. We see a lot of instances in which they damage the property. Holes in the wall, water damage, broken appliances, damaged floors, mold, broken tiles, plumbing issues are some of many examples of tenant damage. These damages can even make it extremely difficult to find another tenant unless they are fixed. We’ll buy your property in as-is condition so you don’t have to deal with the mess and necessary repairs to sell.

No Tenant

If you’ve been struggling with vacancies and finding a quality tenant then you’re not the only one. A lot of houses are left vacant for a long period of time after the former tenant vacates the property. Perhaps you don’t have the time or resources to market to find a tenant or the rent you can charge is lower due to the condition of the property. You might not find a tenant you feel comfortable letting live in your property. So what should you do if you are not able to find the right tenant? You need to stop worrying and get in touch with us for a solution. No more calls, repairs, headaches…we are here to help you cash out and move on with your life.

Property Losing Value

Owning property is usually a good investment as it can gain value over time. However, it may be the opposite in some cases. Some common reasons for a property to lose value include: not keeping up or lack of funds for necessary repairs, a market reduction in what you can charge for rent, extended vacancies, tax and mortgage increases, natural disasters, etc… Sometimes the property may be worth less than what you actually bought it for.

Your best option is to sell the property and invest in a better and safer option. Understand the right way to sell your property. In some cases, as-is may be a better option and in others, it may be wiser to perform renovations before you put the house for sale. We can buy the property from you AS-IS so you can move on with your life.

Call us now at 941-212-0535 or fill out the form to see what options and solutions are available for your situation.