3
Consult with an attorney
Filing an eviction incorrectly can cause you significant losses, especially if your rental is in a tenant friendly state. In some cases, a small mistake can mean having to start the eviction process over or getting countersued by your tenant. Be sure to consult with an attorney. For quick questions you can use a low-cost legal chat service such as JustAnswer, to chat with an attorney in your area.
IN SOME CASES, A SMALL MISTAKE CAN MEAN HAVING TO START THE EVICTION PROCESS OVER OR GETTING COUNTERSUED BY YOUR TENANT.
Offer a cash-for-keys deal
This method involves the landlord offering a few hundred dollars of cash to the tenant to move out and acts as an incentive for tenants with cash flow problems. Paying the tenant this cash will be less costly than eviction and can save you a great amount of stress. Use AAOA’s free cash-for- keys agreement to get started.
5
Use free or low-cost marketing services
To minimize expenditures and get your unit rented out as quickly as possible consider using:
• ApplyNow, the free marketing link available to everyone through AAOA. Anybody looking for a new rental home can access it from your social media, website, or digital listing to begin an application. They can pay for the credit report and background screening online and can submit important documents, such as their paystubs and ID.
• Free or low-cost rental listing services such as Craigslist or Zillow • Incentives such as free parking or a temporary rent discount • Social media posts • Newspaper ads • Printed signs
FINAL THOUGHTS Savvy landlords rely on thorough screening of all potential renters to avoid significant income loss and the aggravation that comes with renting to a bad tenant. If a good tenant goes bad, they have a LeaseGuarantee in place and can act quickly with the advice of legal experts to pursue an eviction or cash for keys deal. And when the tenant is finally out, they know how to quickly find a new one.
Remember that residential tenancy laws generally favor the tenant, so make sure that you do as much due diligence as possible up front to prevent future problems. Always keep in mind the true costs of renting to a bad tenant and conduct your due diligence with a comprehensive AAOA credit report and background screening.
NANCY ABRAMS Assistant Editor American Apartment Owners Association (866) 579-2262 nancy@aaoa.com
Nancy Abrams has enjoyed a long career in real estate marketing throughout Southern California and Las Vegas. She formerly represented 19 Merrill Lynch Realty branch offices, property managers The Roberts Companies, new home developers, including master planned communities Peccole Ranch and The Valencia Company and shopping centers for Sandy Sigel of NewMark Merrill.
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