If you own a rental property but had a tenant trash it when they left then make sure you read this article. We’re addressing the all-too-common problem that landlords have when they say, “Help! My last tenant trashed my house!” We highlighted one of our client’s experiences with this problem in our post on November 22, 2016.
These next few blog posts are about something we see fairly often in our business. Most Portland tenants are good people. In fact, most tenants everywhere are good people who will take care of your property. But occasionally you’ll get a bad apple. These next few posts will hopefully help you through this situation.
Do you own a rental property? Did you have a tenant leave it in less-than-perfect condition? It happens! In fact, it’s an experience that probably every landlord faces at least once. If you looked at your empty rental property and said, “Help! My tenant trashed my house” then here are some things you can do about it…
Is it worth going after the tenant?
You need to first assess the damage and decide if it’s worth going after the tenant. Unfortunately, it often isn’t worth the hassle. It’s time consuming and expensive to get the tenant to pay you back. However, if the damage is significant enough, you may choose to do this. Get a good real estate lawyer and make sure you can track your tenant to their new address.
Is it worth repairing the damage?
From holes in the walls, missing toilets, missing wiring, missing plumbing – we’ve heard, and experienced, just about everything you can imagine! Sometimes a bit of drywall and paint will fix the problem, in which case you may want to fix it up and rent it out again. Just accept the inconvenience as the cost of doing business. This is why you budgeted for vacancies and took a damage deposit. However, if the damage is not worth repairing yourself then you might consider a couple other options:
You could rent your house to a handyman
One little used option that is actually really helpful is to find a handyman who wants to rent the house. Include this need in your Craigslist ad. This is one way I went through college. In exchange for a discount on rent (or even free rent) a handyman can fix up the house and make it a nice rental property again. Make sure you have a timeline spelled out for each task, though, to avoid them staying too long without getting the work done. Also, inspect each item of work after its done to make sure its up to the quality you expected.
You could sell the house
Another option is to sell the house and move on from owning a frustrating rental property. This is what our client did in our blog post of November 22, 2016. Two major remodels in 9 years was just too much! Beware that you may have to fix it up first in order to get an agent to list it, or for it to qualify for a loan. Another option is to sell privately to a house-buying team like ours. We buy houses in as-is condition and we’ll fix them up ourselves.
To get a fair cash offer for your property, no matter what condition it’s in, just call us and we’ll give you a no-obligation offer. Because we pay cash we can buy your property fast. Click here now and fill out the form or call our office at (971) 246-7954 and we’ll get back to you right away.
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