Steve Rozenberg of Empire Industries Dallas talks about handling situations when your tenant just can’t pay the rent.
Did you ignore the warning signs?
The reality is you are a bad owner, and they are not necessarily bad tenants. If you looked at their past and did the right background check, chances are there were red flags that you chose to ignore because you wanted the house rented.
I know this because I did that many times. I put the wrong tenant in and would get the same results of evicting the tenant because I did not stick to my policies.
Selecting a good tenant is key
The tenant screening process is the more important step when trying to get a quality tenant in your rental property. Checking different background checks and looking for any red flags will help ensure you are getting a responsible tenant that will pay rent every month with no issues.
At Empire Industries we have a 1% eviction rate. We conduct a thorough 20-point tenant screening process to make sure we are putting the right person in the rental homes we manage.
If they are not paying on time and/or they’ve had challenges in the past, do not accept them. If ever you decide to take them and challenges arise, you must enforce the lease agreement as it is a contract that you both have to abide by.