In our last post, we talked about the cost of replacing a tenant and determined it is quite high, so you want to try to hold on to your tenants as long as possible.
But what if you don’t want to hold on to them? Occasionally we hear horror stories of bad tenants. The kind who don’t pay their rent on time, are rude to neighbours and damage your property.
What can do you do to get rid of this kind of tenant?
Find out why their rent is late. Is there a family crisis going on? Did they just get laid off? Or did their pay cycle change at work and it’s creating cashflow problems? If your tenant has been in your property for some time and you have never had a problem until now, talk to them first before making assumptions.
Have they destroyed the property? Still, go talk to them in person. Let them know that you have been forced to evict them, but you would be willing to waive the eviction if they could be out of your property by a certain date with all their belongings. This means that an eviction will not be on their record, remind them that an eviction will make life harder for them in the future. Before going ahead and offering this compromise, make sure you are legally able to do so. If you are in Victoria, read about how much notice you need to give here.
The worst thing you can do in this situation is drag the chain and hope that things will sort themselves out. They won’t, and the sooner you can reclaim your property, fix it up and put the nightmare behind you, the better.
In the future to avoid this heartbreak, make sure you go through all the steps of weeding out bad tenants. Or you could employ the services of a property manager and they will take care of this for you.
Have you had to deal with this? What was your preferred method of getting rid of the tenant?