Do you possess a rental property? Have you experienced a situation where a tenant left it in less-than-ideal condition? This is a common occurrence. In fact, nearly every landlord has encountered this issue at least once. If you’ve found yourself looking at your vacant rental property and exclaiming, “My Belton house was trashed by my tenant,” then here are some steps you can take to address the situation.
Is it worth going after the tenant?
Your initial step should be to evaluate the extent of the damage and determine if pursuing the tenant is a worthwhile course of action. Regrettably, in many cases, it may not be advisable due to the potentially time-consuming and costly nature of recovering the expenses from the tenant. Nevertheless, if the damage is substantial, you might opt to proceed with this course of action.
Is it worth repairing the damage?
From wall punctures to the absence of toilets – we’ve come across a wide range of issues! Occasionally, a minor repair involving drywall and paint can resolve the situation, allowing you to refurbish the property and continue renting it, accepting the inconvenience as a part of your business expenses. Nonetheless, if the damage exceeds what you can handle on your own, you may consider exploring a couple of alternative choices:
You could rent your house to a handyman
An often-overlooked but highly beneficial alternative is to locate a handyman interested in renting the property. In exchange for a reduced rent rate or even rent-free accommodation, they can undertake the necessary repairs to restore the house to a desirable rental condition. However, it’s essential to establish a clear timeline to prevent any extended periods without substantial progress on the renovations.
You could sell the house
A different approach involves selling the property and putting an end to the challenges of managing a troublesome rental property. Nonetheless, it’s worth noting that if you intend to sell it on the traditional real estate market, you might need to carry out necessary repairs for the agent to list it. Alternatively, you can opt to sell directly to a home-buying team like ours. We purchase houses in their current condition and handle the necessary renovations ourselves.
To get a fair cash offer for your property, no matter what condition it’s in, just get in touch with us and we’ll give you a no-obligation offer and we can even buy your property from you fast. Click here now and fill out the form or call our office at 512-881-0078 and we’ll get back to you right away.
Frequently Asked Question
Maybe you have a few questions. That’s okay; most people do. So here’s a quick question people ask us… along with our answers. If you still have a question, don’t hesitate to contact us (or give us a call) and we’ll be happy to answer it for you.
Q: How are you different from a real estate agent?
A: Real estate agents list properties and hope that someone will buy them. The agent shows the properties to prospective buyers and then take a percentage of the sale price if they find a buyer. Oftentimes, the agent’s commission is 3-6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay between $3,000 – $6,000 in commissions to an agent). Agents provide a great service for those that can wait 3-6 months to sell and who don’t mind giving up some of that sale price to pay for the commissions. But that’s where we’re different: We’re not agents, we’re home buyers. Our company actually buys houses. We don’t list houses. Since we’re actually the one buying the house from you, and we pay with all cash… we can make a decision to buy your house within a couple of days (sometimes the same day). Again, we make our living by taking the risk to buy the house with our own cash, repair the house, and market it ourselves to find a buyer (which is the hard part in this market).