Are you a Kansas City landlord that is dealing with troublesome tenants? This is one of the frustrating problems with owning rental property, and can happen to any investor. This article will explain the solutions that landlords have in the Kansas City area.
Business would be easy, if it weren’t for the people. If you can relate to this statement, then you’re not alone. For rental property owners, dealing with problem tenants is one of the biggest issues that arises. If you’re currently dealing with this situation, know that you’re not alone. But you have options.
Negotiate with the Tenant
The first, and easiest solution to work towards is to simply speak with the tenant. Occasionally, they may not know that there is an issue. Or perhaps they are falling on hard times, and the two of you can work out a solution to get things back on track.
Cash for Keys
This is more or less how it sounds. In exchange for some cash, the tenant agrees to move out of the property and turn it back over to you. Of course, don’t pay the tenant until they have officially left the property and returned the keys. This solution can be expensive but is often quicker and cheaper than dealing with an eviction.
Evict the Tenant
That brings us to our next solution. If the tenant has broken the terms of the lease, you can always choose to evict the tenant. Keep in mind that there is a formal legal process to do this. Therefore, it often involves lawyers and dealing with the city. It can also be very expensive and time-consuming, not to mention stressful. Once the tenant finds out that they will be evicted they may also cause further damage to the property.
Sell the Property
It surprises many landlords to learn this but selling the property can be the quickest way to remove yourself from this difficult situation. Oftentimes landlords become burnt out from the landlord business, or simply a certain property. Companies such as ours specialize in dealing with problem tenants and are happy to take this issue off of your hands. If you’re thinking of selling the property, give us a call to discuss your options. We’re here to help you!