Landlord should do at least one eviction to graduate
Author: nicker
Category: Investors Insights
Think of eviction as a blessing hidden in disguise. Only going through eviction, a landlord can truly appreciate this business and appreciate how important it is to check credit report before signing the lease. Only through the experience of eviction, landlord can learn to suppress the impulse to rent it out as quickly as possible. All evils are done in renting fast. A lot of owners are under the pressure to save losing money to vacancy, they rush to rent it to almost anyone, in many cases, they rely on gut feelings and often forego credit check. Yes, these landlords can be lucky for a long while, but they cannot graduate from an accidential landlord to a professional landlord without going through an eviction process by themselves. Luck will not happen all the time, one of those days, your gut feeling will fall prey to the reality. So, treat this wonderful mischief of having to evict some bad tenants as a God-given learning opportunity. If you graduate from this “school”, you will get more professional. Then, your true rental business can officially start…
Many landlord can’t handle the pressure of evicting somebody, they did all the wrong things, then complain that they couldn’t handle it. In the end, they blame to the difficulty of the rental business. No, the business is NOT exceptionally harder than any other business. In reality, rental business is one of the easiest businesses. The real problem is someone’s failure to learn from the mistakes and blame the wrong aspect of business.
More, never lenient, file 5 days of late with NO EXCEPTION
A lot of new landlords are very lenient, they wait for a long time and they trust their tenant too much. The key is ENFORCEMENT. My rule is file in District court after 5 days of not receiving the rent. On the 4th day, I will demand rent to be hand delivered to me personally. If not, on the 5th day morning, a paper will be filed in district court to start eviction process. You must enforce the rule like a machine. Before signing the lease, explain this clearly to your tenant. Bad tenant will be scared off and not even sign the lease with you. This is a good “initmidation”.




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