Being a landlord can be a hard and thankless job. You have a sinking feeling that the only calls you receive are for problems. And depending on the problem, things may have already gotten out of hand—like that leaking hot water heater that’s upstairs… and about to fall through to the first floor. At Ethical Home Buyers, we buy homes in any condition in Tampa, FL—and we can empathize with what you’re going through. Before you throw in the towel, read this article.
Keeping communication lines active, and open, will help avoid future problems with, or between, tenants. Issues between tenants can spiral out of control and require a quick resolution. It may be a good move to also inform tenants that it is preferable to know on the 1st if they are not able to pay their rent—not wait till the 8th to tell you. Clear and immediate communication will help alleviate potential problems.
Have you noticed a sharp increase in complaints from tenants? Tenants not renewing their leases, and leaving you to continually seeking new tenants? These may be signs it’s time to look at the property itself. Consider freshening things up with a new coat of paint, updated countertops, or better amenities, to make your property more appealing to renters. Issues with air conditioning units, aging plumbing, or pest control, tend to only get worse. The sooner you deal with them, the better. Upgrading your property may end up aligning you with a more suitable tenant who’s looking to stay long term. Remember, if you can’t afford to upgrade your property, at Ethical Home Buyers, we buy homes in any condition in Tampa, FL.
Make sure to work with your tenant to devise a solution that serves both parties. If the issue is financial in nature, consider collecting rent on a weekly basis or bi-monthly. Additionally, you can also help your tenant find a roommate. Don’t forget to get to know your tenants and their skills. You may be able to turn to your tenant for a specific service that can enhance your property, like maintenance or lawn care. There are a number of ways to help a tenant in a financial bind, but it starts with having a frank conversation and a willingness to problem solve.
Perhaps property management is more than your want to handle. It’s ok, let Ethical Home Buyers buy your home today. We can get you an offer quickly so that you can move on with life.
Disclaimer: This website is not a substitute for legal advice. If you have a serious legal, tax, or other issue requiring professional advice, please consult with an attorney or CPA.