As a rental owner, it is likely at some point you will have a tenant who trashes your house. This is why you collect a security deposit. State laws allow you to collect a deposit to help cover the cost of any damage or repairs associated with tenant damage during their time of residence on your property. However, the laws require that you keep a detailed record and itemized list of repairs and costs, and even though it may not seem fair, your tenant is protected by the law so you must provide the documentation within a specific number of days as well.
A hostile, angry tenant is the nightmare of every landlord and when you encounter one you may want to lash out in kind. However, as a business person you need to think logically and within the terms of the law to protect yourself and ensure that you are able to get appropriate compensation on your investment. Following a few simple guidelines when your tenant trashes your house will help you stay clear, and remedy the situation with as little fuss and drama as possible.
Unfortunately, major damages usually exceed the cost of the security deposit collected and mediation or a court case ends up being the speediest path to resolution for many landlord and tenant conflicts. It is important to follow state laws with regard to notifying tenants of eviction and if you are seeking damages beyond the security deposit. Keep interactions with an angry tenant civil and consider taking along a witness for any face to face encounters. Do not be afraid to involve local law enforcement as police reports can help support your claim when you have to go to court.
Documenting the damage on our rent house means to take pictures and videos of the damage as you discover it, and also date and time stamp the materials. This is important in creating a clear record for any legal proceedings. Many landlords will do a quick videotape run-through of the rental property before giving a new tenant keys. This creates a record that can be used in the courts for before and after. Then when you take the video of the damage you can have the original footage available for comparison. It is also important to involve the local police so that a report is on file documenting the damages. Your insurance company should also be kept in the loop as your policy may cover some damages incurred by tenants.
Documentation also extends to estimates for repairs. Estimates from professional contractors are always asked for by the judge if you need to take the tenant to court. It is a good idea to get at least three different estimates from contractors who can quote costs such as material and labor for the same repair job. You will want to keep copies of all bids, invoices and payments for the court case. In most instances, it is not a good idea to wait until a case has been settled to begin repairs. Getting your rental property back up to leasing standards is important to minimizing your financial loss.
Sometimes an angry tenant goes overboard and causes damage that exceeds your budget for repairs and you know that getting compensation from the tenant will be a long process. In these instances, cutting your losses with a quick sell of the property may be your best bet. Placing a damaged rent house on the market can sometimes result in a quick sale for an investor who enjoys flipping houses so you can have money in your pockets now, while awaiting the results of your lawsuit. However, be sure to get those bids for repairs first to support your damages award in court.
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