Problem tenants who consistently pay their rent late or don’t pay at all can be a pain. But the eviction process–which can be as lengthy as it is time-consuming– can be even worse. So what’s a busy landlord to do?
Offering an incentive is an effective way you can entice your renters to move. Here are three especially effective ones you can use to put an end to a relationship with individuals you no longer want living on your rental property:
Return part of their security deposit
Tell your tenants that you will return part of their security deposit if they leave by a specific date. Before making any such promise, though, you should calculate how much of the security deposit you’ll need to cover lost rent and damage repair. Then compare the overall cost of evicting your tenant to the incentive which should total to no less than $100.
Offer free storage space
Acknowledge the inconvenience you are causing them by offering to store personal property in your garage or basement. Tell them you will do this for up to two months while they secure a new place to live.
Rent a moving truck for them
Another good tactic is to tell your tenants that you’ll rent a U-Haul truck for them so that they can take their belongings to their new home.
Most tenants want to avoid eviction because it will make it harder for them to find a landlord willing to give them a new apartment. So offering incentives can help get them moving. Just beware that is illegal to coerce renters to leave by locking them out or threatening them. Any such action will result in fines for you.
At Herman Boswell, we understand that your time and reputation are valuable. Our property management experts know just how to handle–and get rid of–difficult tenants and find replacements that will take their financial responsibilities seriously. Let us help you maintain your investments and your peace of mind. Contact us today!