If you’re an investment property owner, chances are you’ve been in the situation where you have to evict a bad tenant. Typical evictions don’t come out of nowhere, and the process can be emotional, especially if you’ve been helping someone. In the last 13 years, I’ve learned you can best help a tenant in need with tough love. Teaching someone they’re responsible for providing for their family is invaluable. As an investment property owner, you’re seen as someone with a lot of money. Tenants may see you as a business with deep pockets and not as a human. Regardless of the situation, these are the steps we take to evict a bad tenant.
When you’re looking for professional property management in Phoenix, you need to know what you can expect to pay for these services. Phoenix is a hot market for investment properties right now. That means a lot of companies are in the valley, offering services for the professional management of single family homes. Each company sets its own fee structure. Sometimes, it’s a percentage of the income collected, and sometimes it’s a flat monthly fee. The most important thing to evaluate when you’re comparing companies based on price is what you can get for the fees paid to a property management company.
The most important and most difficult thing you’ll do when you have a tenant who isn’t paying rent is to take emotions out of the situation. Assuming you did not purchase this property for charitable causes, you aren’t in the business of providing free housing.
There are a lot of great reasons for why you should hire a professional Phoenix property management company to manage your investment property. Potential clients often come to us after self-managing their homes with the same problems. The property is under-managed and in disrepair, so it will cost thousands of dollars to bring it back to market. Tenants are often several months behind in rent because they’ve told the landlord about their family member who died or their car that broke down. Owners feel bad for their tenants, and so those renters end up several months in arrears in a property that needs a lot of work. This is our favorite type of property to manage.