It’s important that you read this article if you own a rental property and have had a tenant trash it when they leave because we’re going to address the common problem that landlords face when they say, “Help! My tenant has trashed my property!” “My previous tenant completely demolished my Atlanta home!”
Do you have a rental property that you let out? Have you had a tenant who left your property in less-than-perfect condition? It does happen! In fact, it’s an experience that almost every landlord has had to deal with at some point in their career. If you looked at your vacant rental property and said, “Help!,” you are not alone. If you have a tenant who has trashed your Atlanta home, there are some things you can do about it…
Is it worth it to pursue the tenant further?
You must first assess the damage and determine whether or not it is worthwhile to pursue the tenant. Unfortunately, it is often not worth the trouble because it can be a time-consuming and even expensive endeavor to compel the tenant to pay you back after a dispute has arisen. It is possible, however, if the damage is significant enough, that you will choose to do so.
Is it worthwhile to have the damage repaired?
From holes in the walls to toilets that have gone missing, we’ve heard just about everything you can think of! There are times when some drywall and paint will suffice to solve the problem, in which case you may decide to repair the property and re-rent it, while accepting the inconvenience as a cost of doing business. You may, however, be interested in a couple of other options if the damage is not worth attempting to repair yourself.
You could consider renting out your home to a handyman.
One little-known option that can be extremely beneficial is to find a handyman who is interested in renting out your home. In exchange for a discount on rent (or even free rent), they will help you to repair and renovate your home so that it can be used as a rental property once more. Keep in mind that you should have a clearly defined timeline in order to avoid staying for an excessive amount of time without getting much work done.
You might be able to sell your home.
It is also possible to sell your house for cash and move on from the frustrations of being the owner of a rental property. If you decide to sell your home on the open market, keep in mind that you may need to make some minor repairs before the agent will list it. Alternatively, you might consider selling your home privately to a house-buying team like ours. (We buy houses in their current condition and fix them up ourselves.)
4 Strategies for Dealing with a Disgruntled Tenant in Atlanta
Do you have tenants who are a source of frustration for you as a landlord? You are not alone in your feelings. It is not uncommon for landlords to discover the hard way that they have horrible tenants in one of their rental properties. In this article, we’ll go over four strategies for dealing with a difficult tenant in Atlanta, specifically the 30309 zip code.
If you own a rental property, you will almost certainly have to deal with a disgruntled tenant in one of your properties at some point in the future. Perhaps they have demolished the property, perhaps they do not pay their rent on time, perhaps there are too many people living there, perhaps they simply contact you for every little thing. Tenants like that will eventually rent your property, regardless of the circumstances. When you have a difficult tenant in Atlanta, here are four strategies to help you deal with the situation.
Try to convince or negotiate with your tenants
You can attempt to reason with your tenants by explaining that you provide a service for which they are responsible for payment and proper treatment. Perhaps your tenants aren’t aware that they are causing you inconvenience, or perhaps they aren’t paying because they require a different payment schedule from you (such as weekly instead of monthly).
Evict your tenants
Evicting tenants can be a difficult and even legally complicated process, but it is an option you should consider. Because the law frequently favors tenants over landlords, you may face an uphill battle, but in the long run, it may be worth the effort to evict them from your property and replace them with someone who will be a better tenant.
Explore other legal options
Depending on the circumstances, you may be able to explore other legal options, such as suing your tenants or garnishing their wages in some cases. It all depends on the circumstances and the laws that apply in that circumstance. It’s possible that you’ll need to work with a high-priced attorney to accomplish this, but it’s sometimes worth the expense just to evict a problematic tenant from your rental property.
If your tenants are a real pain in the neck and are causing you a great deal of stress and expense, you can always consider selling your property. In fact, a large number of rental property owners who sell to us do so because they are frustrated by the difficulties they have in dealing with their tenants. In some cases, depending on who you sell to, you may not even be required to evict your current tenant. This is an excellent option for rental property owners who have family members who live in the rental.
The Best Way to Determine whether You Should Sell Or Not.
In the midst of closely monitoring market fluctuations, as well as contemplating any adjustments that may be necessary for your real estate portfolio, determining when the proper time to sell a holding may seem tough. In this case, if you’ve made solid investment decisions, you’re likely in a position where you can either stay on to the property or sell it, depending on what’s best for the future. In any other case, market volatility may play a role in your decision-making process as a whole.
We’ll discuss how to determine whether or not you should sell your Atlanta property.
Is business booming in the neighborhood, or are things just getting started? One technique to determine whether or not you should sell your property in Atlanta is to look at the current demand for the area. Identifying the elements that are currently attracting consumers to an area and demonstrating to them the signals of new life entering the neighborhood are both possible when a community is in its infancy. If, on the other hand, the property is deteriorating and crime rates are increasing, it may be best to sell while you can still make a reasonable profit and minimize your losses.
Another technique to determine whether or not you should sell your investment property in Atlanta is to look at the return on your investment. Selling something that isn’t performing makes sense. Experienced professionals, such as direct buyers at Georgia Fair Offer, can assist you in doing the statistics to assess whether your finances would be better spent elsewhere. At Georgia Fair Offer, we will detail the difference between what you would make from a conventional sale on the market and what you would earn from a direct sale, and we will provide you with the information you need to determine which option is best for you.
Motives based on financial gain
Would selling the home allow you to take advantage of a better opportunity by utilizing a 1031 tax-deferred exchange allow you to make a move? It is an excellent approach for an investor like you to determine whether or not you should sell your investment property in Atlanta if you believe you can generate a higher return on your investment. Additional options include having a professional investor buy your property directly and then assisting you in finding a property for your like-kind exchange, such as the direct buyers at Georgia Fair Offer.
Personal Reasons for Doing Things
If you’re forced to sell your holding due to personal reasons or a sudden financial emergency, this is one indication that you should sell your investment property in Atlanta. Consider the scenario in which time is suddenly of the essence. Then a direct sale to a cash buyer like Georgia Fair Offer could be the ideal answer for you because we have the backing of cash, your guaranteed closing can be completed in a matter of weeks, or we can wait if you aren’t quite ready, just let us know when you want to close. Furthermore, because Georgia Fair Offer purchases houses in their current condition, you’ll save time, money, and effort by foregoing the preparation, listing, and showing processes entirely.
Georgia Fair Offer
A direct buy from Georgia Fair Offer can assist you in sorting through all of the facts to help you determine whether or not you should sell your investment property in Atlanta right now, depending on your situation. Make sure to inquire about our current inventory of the most excellent investment properties available in Atlanta if purchasing another property is the next step in your investment strategy. Choosing to sell straight to Georgia Fair Offer is a wise decision because we want you to be satisfied with your purchase even after the closing has taken place. As a result, we create an offer that you will consider reasonable. At Georgia Fair Offer, we are your neighbors that live and work in the same neighborhood in downtown Atlanta as you. Georgia Fair Offer’s direct buyers are pleased to answer any inquiries you may have without placing you under any obligation. Georgia Fair Offer can be reached at (404) 855-0944.
The Surprising Truth Of Being A Landlord In Atlanta
Do you have a rental property in Atlanta that you would like to rent out? Prepare yourself for the unexpected realities of being a landlord in Atlanta, because it is not always what you expect it to be…
The unvarnished truth about being a landlord
The idea of owning a rental property appears to be a fantastic one. You purchase the property for a low price, find a tenant, and then profit from the rental income while managing the property… What could possibly be so difficult?
The problem is that it’s often much more difficult than people realize, and you may discover (as many landlords do) the surprising truth of being a landlord in Atlanta: You have to give up your personal life – no more private time, no more vacations, no more weekend getaways… You have to give up your personal life because you’re a landlord in Atlanta. It’s all because you’re so busy with your landlord duties.
There’s the actual work that needs to be done.
Owning a rental property will keep you occupied. There’s the work involved in finding the property, then fixing it up, then finding a tenant, and then answering the phone when they call on a regular basis. If they call late at night because the toilet is overflowing, you have to answer the phone and deal with whatever situation they have. In addition, there will be no more vacations, because who knows what will happen if the toilet overflows while you are in a foreign country?
Now is the appropriate time.
Some landlords attempt to manage a rental property while also working another job, but many quickly discover that it is just as time-consuming as their other job… It’s like having a second full-time job on top of everything else! If you’re not chasing down your tenants or fixing things around the house, it’s impossible to find time to work at your other job… and that’s just with ONE rental property! Landlords who own two or more properties are even more in demand.
Then there’s the financial cost.
It is not inexpensive to rent out a property. Sure, you receive a portion of the rental income from the tenant, but you also have to maintain the property, repair it, make improvements, and repair it if the tenants damage it when they vacate the premises. In other words, the costs of owning a rental property add up, and the financial benefits of doing so may not be worth it for you.
Then there’s the pressure.
Stress is equal to the sum of all of the factors listed above thus far. You’ve got a lot to juggle with the rental property, and you’re constantly worried about it. You might even be afraid to open the mail because you might get some bad news in the next envelope. That’s not a healthy way to live.
If you own a rental property and want to get rid of it, we can help. We buy properties (even frustrating rental properties that have damage or bad tenants you can’t get rid of). Can we make you an offer on yours?