Did tenants damage property in your rental?
Is the tenants damge to property you own going to cost a lot to fix?
Is the damge caused by tenants constantly casuing you headaches?
Learn about what you can do here. We buy houses from landlords so if you want to chat give us a call. Even if we don’t make a deal we have rentals too so we can at least trade tips, right?
Tenants damaging rental houses is a common concern for landlords.
Tenants causing damage is not new. Let me start with this though. Not all tenants are created equal. There are plenty of great tenants out there. Please do not thing all tenants cause damage. And remember at the end of the day we are the ones that put the tenants in their that cause the damage.
Having your house trashed by your tenants is one of the worst things that can happen to a landlord in Denver. Unfortunately, we’ve had a quite a few conversations with landlords saying “My tenants trashed my house, what do I do?”
Whether you own a rental property here in Denver or out-of-state in another part of the country, then this article is for you. Many landlords have faced the ugly fact that a tenant has trashed their house. It’s almost a right of passage for many landlords. In many cases, state laws favor the tenant until any eviction order is served and every state handles evictions differently. Be sure to look up Landlord-Tenant Laws specific to the state.
So, after you have got the keys back, got rid of the tenant, and evaluated the damage—what now? Here are some ways that experienced Wisconsin landlords deal with tenants who’ve left a trail of destruction.
So, what do you do once you’ve successfully removed the tenant and are left with a damaged property? We asked an experienced Real Estate investor in Wisconsin what options he considers when deciding the fate of his damaged investment.
A tenant damaged my rental. Should I Take Legal Action?
It often isn’t worth the hassle and cost of suing your tenants. Before making a decision like this, it’s extremely important to evaluate the damages and determine the costs. Before getting sue happy, consider the process of filing a complaint with the local court, hiring a lawyer if needed, and attending trials. This process will take up a lot of time and money and may cost you more than the damages, especially if you lose the trial.
Should You Repair the Damage the tenant caused?
From holes in the drywall to missing toilets and stolen fixtures—we’ve just about heard it all. Sometimes, it’s not expensive to fix a few holes in the wall or even replace plumbing fixtures. If that’s the case, then it’s worth getting the repairs done to rent out the house again.
But what about if the repairs are going to be costly? What are the best options if you own a rental that has been trashed?
Smashed windows? Urine drenched carpets? Holes in the drywall and doors? Stolen fixtures or appliances? We’ve heard it all. Some things are easily fixable/replaceable. In this case it’s worth making the repairs and returning the house to a great income producing asset again. But what if the repairs are going to really burn a hole in your pocket? What options do you have if you own a trashed rental?
Two Popular Options If Your Tenants Damaged Your Rental House
Here are two popular options that most landlords take when a renter has caused major damages.
Find A Handyman Tenant
There are several ways you can arrange a win-win for you and the handyman tenant. You can rent the property at a significant discount, pay your tenant for the work they do, or even offer to allow him to live rent-free in exchange for labor, while you provide the materials.
Be sure to get down in writing the arrangement you’ve made with clearly defined timelines. Otherwise you might still end up with a damaged house years later.
Sell Your House
The real estate investor we interviewed said he sold his house in Kenosha, WI to his local home buying company in WI that bought the house out right. He says, “It just didn’t make sense for me to put in the time and money to keep this rental. So, rather than waste time, I decided to sell and move on to my next investment.”
If you’re considering selling a damaged property in Denver, our team is here to give you a fair value, cash offer on the house today. Leave the repairs for us. We buy houses in Denver “as-is.”