Do you have tenants who aren’t paying rent? It’s one of the most frustrating aspects of being a landlord. In this article, we’ll talk about how Houston landlords are dealing with tenants who don’t pay rent…
Of course, the best defense is a good offense – meaning that if you are careful about doing a tenant background check, you check tenant creditworthiness, and you write a lease then those things will help you find a good tenant. However….
If you have tenants that aren’t paying rent, then you’re facing the same dilemma that many landlords go through at least once. It’s frustrating but there are a few things that you can do. Here’s how Houston landlords are dealing with tenants who don’t pay rent.
Tips for dealing with tenants who don’t pay rent
#1. Be Proactive with Tenants
When your tenants don’t pay rent, you need to let them know on the day after rent was due that they were late. You should call them, email them and send an SMS message. This next part is the important part; you need to send them an official written late notice that spells out their violation and the requirements to cure their violation. It’s best if you do it within 3 days of their late payment. If you agreed upon late fees, then you also need to mention in your late notice what amount of late fees will be due by the cure date. To help with any future evictions trials, you should send your late notice via certified return receipt mail. This basically tells you and the future judge if your tenant picked up your late notice or not. You want to remove all doubt from your end to show that you made all valid attempts to notify your tent of their late payment.
#2. Negotiate New Pay Terms
You could negotiate with tenants because maybe they just need a different payment schedule. Not everyone can pay easily each month; some tenants can pay better by the week because it’s a smaller payment. Maybe you can get them to do some work around the property in exchange for a discount on the rent. If you choose to negotiate with your tenant, make sure you revise the lease to capture this agreement, otherwise, you’ll just feel even more frustrated when tenants don’t pay.
#3. Cash for Keys
If you cannot come to an agreement with the tenant, then a very effective method is “Cash for Keys”. You agree to pay tenant a negotiated amount to move out AND leave the property in good condition. The last part is key, no pun intended!
#4. Evict
You can try to evict them, although be aware that this can be a complicated, time-consuming process that may involve some legal hassles too. Eviction is difficult, especially since many laws favor the tenant over the landlord. However, it’s worth performing an eviction if a tenant is non-cooperative. The longer you wait, the more money you lose!
Texas is pretty landlord friendly, so luckily for Houston landlords the eviction process can be pretty quick if you follow the rules. You could brush up on Texas Eviction Property Code, but it’s a very dry read. Another good resource for evictions provides a good summary on Eviction Notices and provides links to the relevant Texas Property Code.
#5. Sell
And lastly, the best way landlords are dealing with tenants who don’t pay is by selling! If this is just one of many frustrations you’re facing with your rental property then it could be your best option! Just imagine selling the property and getting on with your life – and not having to deal with tenants their annoying troubles any longer. Many landlords love the new-found freedom they get when they sell.
At Fink Property we buy frustrating rental properties from landlords that are burned out, worn out, frustrated, and just want to get their lives back.
Click here now and fill out the form or give us a call at (713) 322-6645 to get a fair fast cash offer from us today.
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