As any Jacksonville landlord will tell you, property management isn’t exactly a low-stress job. There’s a lot more to it than mowing the lawn and collecting rent checks, and the situation can quickly go downhill when the latter of these things doesn’t happen.
So what do you do if you’ve got non-paying tenants in your house? We’ve put together a few different strategies. While some are easier than others, you’ll get your space back one way or another.
1. Work it Out Peacefully
It’s important to remember that your Jacksonville tenants could be missing their rent payments for any number of reasons. Maybe they’ve been laid off or are dealing with unexpected medical bills. It could be anything. The first step should always be to have a conversation with them.
Set up a time to meet. Be calm and explain what you are experiencing as a result of their missed payments. Ask them what’s going on and why they haven’t paid their rent. If there’s a serious issue, you might choose to be lenient and to work with them. It’s important, however, that they know that they won’t be able to stay in the property if they won’t be paying any more rent.
2. Don’t Renew the Lease
If you are approaching the end of your lease with the tenants, you might just choose not to renew it when the time comes. The details, of course, depend on the terms of the lease and the local laws, but you’ll need to provide your tenants with a non-renewal notice. In some areas you’ll need to give 30 days’ notice and in others it might be up to 90.
3. Threaten a Lawsuit
If the situation is a serious one, you might decide to threaten your tenants with a lawsuit. Consult with a Jacksonville eviction attorney before you make any moves; any threats made should be within legal boundaries. A lawsuit due to unpaid rent will tarnish your tenants’ records and make things more difficult for them moving forward. Be clear that if they do not pay or vacate the property peacefully, there will be consequences.
4. Buy Them Out
The last route before beginning the eviction process is to buy out your tenants. Why? An eviction might cost you upwards of $10,000. You’ll still lose a few hundred dollars if you buy out your tenants, but a whole lot less than if you were to pursue a Jacksonville eviction.
Offer your tenants money in exchange for them moving out peacefully. Make sure that the terms are clearly defined, however, so that they don’t return to the property after being paid.
5. Sell Your Rental Property and Be Done with the Problem!
A situation with non-paying Jacksonville tenants is a difficult one to navigate. If you’re facing this dilemma, start with our first suggestion and work your way up. If none of these strategies work, we recommend you move forward with the eviction process.
If you have any questions about this tricky topic, feel free to reach out to us. Our LocklearOffers experts will be more than happy to help. Or if you’re interested in selling your rental property as-is, we will be happy to make you an offer. Call us today! (904) 574-4060