Do you have problem tenants ? Are you considering evictions? Well, there might be simpler alternatives to eviction that are quicker and simpler.
In fact, a letter from an attorney describing the problem and the landlord’s legal remedies, is often all the encouragement a tenant needs to get back into compliance.
Another alternative to eviction is to attempt cash-for-keys where you develop an agreement with the tenant to leave if you offer them cash compensation. Granted paying a problem tenant to leave is a tough pill to swallow, but many landlords find this solution to be the simplest and the most cost effective.
After all just imagine a costly and lengthy court case where you are not only losing rent, but also incurring court costs. In fact, some tenant remain in their rental contracts because they can not afford to move. So, if you offer to cover moving expenses, a tenant might take you up on the offer. Make sure you get the agreement in writing. Also, require a walk-through before any money is exchanged.
If a tenant has lost a job, or their hours have been cut back, moving to a cheaper unit might also solve the problem. Most tenants would be relieved to hear that their landlord is willing to work with them to find alternatives.
Contact us if you have question about developing a cash-for-key-contracts for tenant evictions. We are property management services in San Jose, Campbell, Los Gatos and Saratoga.