How Houston Landlords Are Dealing With Tenants Who Don’t Pay Rent
Do you have tenants who just 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…
Lets face it… It’s hard finding a tenant that will pay rent on time every month, for every year, for life. If you have tenants who aren’t paying rent then unfortunately you’re facing the same dilemma that many landlords in Houston go through at least once. It’s frustrating and unfortunately, your options are limited. Here’s how Houston landlords are dealing with tenants who don’t pay rent.
Now we all know the best defense is a good offense – meaning that if you are super careful about doing a background check on your tenants, and if you have a contract, then those things will help you. But here are your other options…
#1. Avoid the situation
Believe it or not, some landlords are passive and void the situation and hope their tenants pay. This is definitely not the best option but it is an option that many landlords take. You can just ignore it and hope they’ll pay on time next month and maybe even catch up. Frankly, it may not happen (it rarely does) but it could happen so we’re including it here as a possibility. When dealing with tenants who don’t pay rent, we don’t recommend this strategy because it opens the doors to the possibility that your tenant will take advantage of you. This method can cause a lot of unwanted stress for you and not make investing as rewarding as we all know it can be.
Negotiation is the way of life and we all know that. Dealing With Tenants Who Don’t Pay Rent can be difficult. You could negotiate with them because maybe they just need a different payment schedule. Not everyone can pay easily each month; some renters can pay better by the week because it’s a smaller payment. Or maybe you can get them to do some work around the property in exchange for a discount on the rent. I would highly suggest communicating with the tenant as much as possible so that they will feel comfortable enough to even negotiate with you. You don’t want their pride to get in the way and end up never speaking up. If you choose to negotiate with your tenant, make sure you get an agreement from them that works for both of you, otherwise, you’ll just feel even more frustrated!
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 very difficult to do, especially since many laws in Texas favor the tenant over the landlord. It may be worth doing this in the long-run, though, if you can get a paying tenant into your rental property.
#4. Cash for Keys
This is a little trick in our sleeves that we use when we feel like the eviction process is going to take a little longer than normal. Basically, we offer the tenant a certain amount of cash for the keys and to move out. A lot of the time it catches the tenant off guard and they jump on the offer quickly. You have to remember… They’re already hurting for money so once they see the cash in front of them, who going to say “No” to that. This is probably the least tactic used for how Houston landlords are dealing with tenants who don’t pay rent.
Another option is to sell. If this is just one of many frustrations you’re facing with your rental property then it could be your best option by far! Just imagine selling the property and moving on with your life – and not having to deal with tenants and their annoying troubles any longer. Many landlords love the new-found freedom they get when they sell. It can really free you up and allow you to focus of life’s finer things like family, friends, fitness, health etc…
At ARCO Home Solutions we buy unwanted frustrating rental properties from landlords like you who are worn out, burned out, frustrated, and who just want to get their lives back.