3 Refreshing Ways to Deal with Bad Tenants
Dealing with bad tenants can become a landlord’s worst nightmare. Whether you manage your portfolio yourself or hire out to property management, bad tenants can make your life miserable. Horror stories of tenants trashing rental properties are a harsh reality that many property owners find themselves facing. Not only is that a major hassle to deal with, but it’s also expensive. Some tenants may be consistently late on rent or cause disruptions amongst your other tenants. No matter which way you turn, you can end up with a bad tenant. Fortunately, there is hope.
Here are 3 refreshing ways to deal with bad tenants and relieve stress from your career as a landlord.
Sell Your Rental Property
Bad tenants can lead landlords to their breaking points, causing them to sell off their rental properties. While at first glance, this may appear like you are throwing in the towel, it doesn’t have to be. Depending on where your rental property is located, you may attract tenants of a certain caliber. Many landlords want to continue buying and owning rentals but prefer certain areas over others. Consider selling your rental property and purchasing a new one in a different area.
You may have more real estate investment opportunities than you initially think that are nearby. There are likely other towns worth considering for rental properties that are still within driving distance of your primary residence. SD House Guys, a professional homebuyer in California, purchases rental properties along the outskirts of San Diego instead of directly in the heart of the city. They often connect with landlords online who are considering selling their rentals. You can learn about how to sell your house fast in San Diego here https://sdhouseguys.com/. 1031 exchanges are options for landlords that plan to sell their rental and buy another one shortly after.
Give Them Gifts for Holidays
Instead of fighting fire with fire, lead with kindness when confronting bad tenants. In life, many people oftentimes ‘act out’ because they want to feel heard, understood, or loved. Consider giving your tenants gifts around the holidays, although you might feel resistant at first. This can help create a sense of community among you and your tenants.
Instead of viewing you as the big, bad landlord, they see you as a human and friend that they respect. By making your tenants feel good, they will feel worse about being late on rent or damaging your property. Once you shift your mindset on how to approach bad tenants, it can completely change the outcome of potentially bad interactions. Eventually, if things continue to shift in a positive direction, buying more rental properties may get back on your radar. Ultimately, it’s important to lead with kindness when dealing with tenants that are not doing the same.
Hire Property Management
The final refreshing way to deal with bad tenants is to outsource your current duties as a landlord. If you are reaching your breaking point, make a change. There’s a reason why professional property management companies exist. They specialize in working with tenants and straightening out troublesome rental portfolios. You don’t have to take on bad tenants alone. Outsource the duties that you can’t bear to continue doing. This will dramatically decrease the stress in your life and will free up more of your personal time to work on other projects.