If you’re in the real estate investment industry, you may have experienced a tenant abandoning your property. Maybe they were in the middle of a lease and didn’t want to wait until the term was up to move, or perhaps they left in the middle of the eviction process. Either way, the tenant’s decision to abandon the property puts you in a unique position that if you’re not prepared to deal with it, it can cause you some issues.
Here are some great tips for you just in case you ever have to deal with such an issue:
Change the locks
The easiest thing you can do when your tenant has abandoned the property is simply change the locks. However, if there is any doubt that they have not abandoned the property, changing the locks can do more damage than good. Ask the neighbors if they have noticed the tenants moving out. Check the property for furniture, sheets on the bed, and see if they have filled out a change of address form at the post office. These are small signs that the tenant has left and is not coming back.
Know the laws
If the tenant has left personal belongings inside the property, technically they have not abandoned the property. Each state has different laws to handle this situation, such as a time limit for the tenants to remove their property from the home. If the tenants are unreachable, it can expedite the process. It is essential to document what is left in the house and what changes you have noticed. In the case of legal actions, you must show proof of how you have handled the situation and how the tenants have handled the situation.
If you need to have the personal belongings they’ve left moved from the property, put them in a safe storage facility. If you have a secondary address for the tenants, let them know what is going on and where their properties are stored. If an eviction is necessary, the court will want to make sure you have handled the situation as professionally as possible.
Cash for keys
If the tenants are being extremely difficult and you are facing having to evict them, you can try bribing them to leave by offering a “cash for keys” agreement. This may not be the best option, especially if they are behind in rent or being unreasonable, but it will be cheaper and possibly more effective than taking the situation to court. You can offer the tenants an amount of money in exchange for the keys to the property and a signature on a liability form claiming that they cannot sue you for any reason.
Every property owners hope that the renting experience will go smoothly. However, that is not always the case. These are a few things you can do before taking matters into a court of law. If you can work out a deal with the tenants, it can be much less stressful than taking legal action and dealing with the courts.
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