At its best, real estate investing and managing can be a fun, profitable way to make a living. You get to work on improvement projects, develop quality living spaces, and create new relationships with residents. Best of all, if you select ideal residents, you hardly have any work to do besides cashing the rent check. But, all of this can go south in a hurry with one difficult, stubborn, unmanageable resident. As experienced property managers and owners know, one troublesome tenant can require as much work as 10 straight-forward residents combined.
If you have one of these difficult residents on your hands, be sure to follow these 5 tips when having to deal with issues caused by them.
- Set Clear Parameters from the Start – After you have agreed to lease your property to a resident, you need to clearly establish your rules and expectations of them. That way, they can never exploit any ambiguities or grey areas to take advantage of you.
- Be Confident and Firm – If you misjudge one of your residents and they turn out to be troublesome, don’t hesitate to act on their violations of your agreement. If they perceive any weakness or timidity on your part, they will think that they are in control of the relationship and will not respond to your reprimands. The best thing you can do is to approach them with confidence and tell them exactly how things will be moving forward, without being rude or vindictive.
- Stay Calm and Objective – The last thing you want is an explosive confrontation which permanently damages the relationship, because the only option you may have left after that is a costly, drawn-out eviction process. As the property owner or manager, you must establish that you are in control of the situation and stay objective. Stick to facts about late payments or clear violations of the lease agreement when you confront problem residents.
- Keep Communications Open – The quickest way for a situation to get out of hand is a lack of communication with your residents. If you keep in contact with them and check in often, you will be made aware of potential issues and can manage them before they balloon out of control. Likewise, your residents will be more likely to feel that they can trust you and are able to talk through problems with you.
- Hire a Property Manager – Sometimes, it may be too much work and trouble for you to deal with difficult residents, especially if you currently manage several properties and residents at the same time. That’s where hiring a property manager can prove invaluable. You won’t have to communicate directly with difficult residents who can make your life stressful. And, you can rest assured that the situation is being handled and your assets are protected by a competent manager.
Norniella Management Company can take the weight of troublesome residents off your shoulders. Our years of experience as property managers in Texas can protect your investment property without huge management fees. Let us handle everything: screening residents, setting monthly rent prices, marketing your property, collecting rent, taking care of maintenance requests, and more. Call us today to learn more at 888-979-5357.