If you own a rental property but had a tenant trash it when they leave then make sure you read this article because we’re addressing the all-too-common problem that landlords have when they say, “Help! My last tenant trashed my Fort Myers house!”
Do you own a rental property? Did you have a tenant leave it in less-than-perfect condition? It happens! In fact, it’s an experience that probably every landlord has faced at least once. If you looked at your empty rental property and said, “Help! My tenant trashed my Fort Myers house” then here are some things you can do about it…
Is it worth going after the tenant?
Assessing the extent of damage caused by a tenant is paramount before deciding on any course of action. It entails weighing the costs and benefits of pursuing compensation. Frequently, the arduous and potentially costly process of recovering damages from a tenant might outweigh the financial restitution itself. The endeavor can consume considerable time and resources, often entailing legal procedures and negotiations. Consequently, landlords may opt against pursuing reimbursement, especially if the damages are relatively minor.
Nevertheless, in instances where the damage is substantial and significantly impacts the property’s value or functionality, pursuing the tenant for compensation becomes a more viable option. Such damages might include structural harm, extensive repairs, or breaches of lease agreements. In these cases, landlords may choose to pursue legal avenues to recuperate their losses, ensuring that tenants are held accountable for their actions. While it may involve a rigorous and potentially protracted process, seeking compensation for substantial damages is crucial for maintaining the integrity and value of rental properties.
Is it worth repairing the damage?
From holes in the walls to missing toilets – we’ve heard of just about everything you can imagine! Sometimes a bit of drywall and paint will fix the problem, in which case you may want to fix it up and rent it out again, and then just accept the inconvenience as the cost of doing business. However, if the damage is not worth repairing yourself then you might be interested in a couple of other options:
You could rent your house to a handyman
Finding a handyman who is willing to rent your property in exchange for discounted or even free rent can be a mutually beneficial arrangement. Not only does it provide them with affordable housing, but it also offers you the opportunity to restore your rental property without incurring significant costs. However, clear communication and a well-defined timeline are crucial to ensure that the arrangement remains productive. Setting expectations regarding the scope of work, deadlines, and the duration of the arrangement can prevent any misunderstandings and ensure that the property is renovated efficiently. This approach allows both parties to benefit: the handyman gains affordable accommodation, while you get a renovated property ready for renting out again.
Nevertheless, it’s essential to maintain a balance and prevent the arrangement from becoming disadvantageous for either party. While offering discounted or free rent can be a great incentive for the handyman, it’s important to ensure that the work progresses according to the agreed-upon schedule. Regular check-ins and updates can help monitor the progress and address any concerns promptly. Additionally, having a written agreement outlining the terms and conditions of the arrangement can provide clarity and protect both parties’ interests. By leveraging this lesser-known option, property owners can efficiently revitalize their rental properties while providing an affordable housing solution for skilled individuals in need.
You could sell the house
Another option is to sell the house and move on from owning a frustrating rental property. However, be aware that if you try to sell the house on the open market, you may have to fix it up first in order for the agent to list it. Another option is to sell privately to a house-buying team like ours. (We buy houses in as-is condition and we’ll fix them up ourselves).