It can be emotionally wearing when you have a tenant that has become far less stellar than the referrals you reviewed and the information provided on their application that led you to accept them in your property.
When facing such a difficult situation, it’s constructive to have a guide providing you with options and steps you can take to relieve the stress for everyone. So read on as we explore five ways to handle bad tenants in Colorado Springs.
Evict
If your first choice of action is eviction to handle bad tenants in Colorado Springs, you need to take a moment to consider that they indeed must have done something very wrong before proceeding. While it may sound easier to evict a tenant with a personality that doesn’t sit well with you than dealing with them month after month, this is a long stretch from being the type of tenant who needs such legal action. Have they failed to pay the rent without any legitimate cause or engaged in illegal or unruly behavior on the property?
Understanding Attitude
it’s incredible how an understanding attitude can make a difference when you must handle bad tenants in Colorado Springs. While your investment properties are a business and you have guidelines you expect your tenants to follow, it sometimes helps to take a step back and be human. Extenuating circumstances can get the best of even the best among us, so take all factors into account and consider breaking a rule or two if it helps keep a good tenant in place.
Boundaries
While breaking the rules now and again may serve you, you cannot allow tenants to believe that you’ve become slack or that there are no rules about making late payments. Bad tenants in Colorado Springs tend to take a mile when you only intended to give an inch. As a result, they may become habitually late payers. While there are emergency cases where you can afford to be understanding when someone cannot pay rent, your tenants’ just not having rent isn’t a valid excuse and, if it happens enough, can cause havoc with your finances.
Document
When handling bad tenants in Colorado Springs, you should document every interaction in writing, video, or photographic evidence. Also, keep any security tapes that may apply to the situation. Finally, keep any estimates or receipts for the work if repairs are required.
Hire Professional Property Managers
When you hire professional property managers, you no longer have to try to collect rent and handle bad tenants in Colorado Springs yourself. Typically, when you work with property managers, their finely honed interview skills and screening process, along with their vast network of professionals in the industry, help prevent bad tenants from ever entering your property. In addition, professional property managers like those at HBR Colorado have teams on-call that can quickly handle every aspect of rental properties, from repairs to maintenance, single-family homes to large complexes, and everything in between.
Why not work with the experienced pros at HBR Colorado and let them handle your bad tenants in Colorado Springs and help you avoid them moving forward. You can truly begin to enjoy your passive income when you have trusted property managers like those at HBR Colorado watching over your investments. At HBR Colorado, our pros are on top of the market and upcoming changes, keeping you apprised to help your portfolio stay solid and healthy. Are you ready to live out your golden years and finally enjoy the financial freedom you created with your investments? Why not reach out to the trusted team at HBR Colorado and leave the property management to us. Contact HBR Colorado at (719) 286-0053.