It’s one of the most frustrating aspects of being a landlord. In this article, we’ll talk about how Minneapolis St Paul landlords are dealing with tenants who don’t pay rent…
If you are a landlord, you know what it’s like for a tenant to be late or, in the worst case, the tenants who don’t pay rent at all. It’s frustrating, and unfortunately, your options with getting what’s due you are limited. Here’s how Minneapolis St Paul landlords are dealing with tenants who don’t pay rent.
Of course, the best defense is a good offense – Getting a good tenant who has the means and seems like the where with all to make the rent payment makes it much more manageable. In today’s tenant favored climate here in Minnesota , and especially in Minneapolis, you have to be careful how you do things. Meaning today’s laws state that you can not use past eviction against a renter to not rent to them or their past credit score as a deterrent for screening your tenants. But, what you can do is call their previous landlord and ask them if they would rent to them again. Keeping reading to see what are your options are.
#1. Avoid the situation
You could avoid the situation, put your head in the sand, and hope they pay. This is not the best option, but it is a path that many landlords take. You can ignore it and expect they’ll pay on time next month and maybe even catch up. Frankly, it may not happen (it rarely does), but it could happen, so we include it here as a possibility. When dealing with tenants who don’t pay rent, we don’t recommend this strategy because it opens the doors to the opportunity that your tenant will take advantage of you.
#2. Negotiate Payments
Another way that you can deal with tenants who don’t pay their rent is to negotiate with them a plan to pay back the rent due. Not everyone can pay on the first of each month the whole month’s rent. Some renters can pay better by the week because it’s a smaller payment. Some like to pay on the 1st and 3rd Friday of each month because that is when they get paid from their work. Or maybe you can get them to do some work around the property in exchange for a discount on the monthly rent. If you choose to negotiate with your tenant, make sure you get an agreement from them that works for both of you. And in the agreement have wordage about if they don’t pay the rent what the penalty will be. Don’t let the tenant get you to feel even more frustrated, work out a deal!
You can try to evict them through your local court system. You usually have to wait 5 business days after the rent was due before filing for an eviction. Be aware that this can be a complicated, time-consuming process that may involve some legal hassles too and money out of your pocket. Eviction is very difficult to do, especially since many laws in Minneapolis St Paul favor the tenant over the landlord. It may be worth doing this in the long-run, though, to get them out and if you can get a paying tenant into your rental property.
If you are able to get your tenant out of your Minneapolis St Paul house after them not paying you most likely are going to be dealing with a trashed house. On top of all the pain and money lost with a renter not paying rent, now you are dealing with them trashing your Minneapolis St Paul place. Move quick on what ever you do to get them out of your property.
Another option is to sell your rental. If this is just one of many frustrations you’re facing with your rental property, then selling it could be your best option! Many people go into the rental business, not understanding what it’s going to be like. Its hard work. Most think all they have to do is buy a house and find a tenant who will pay rent. But as so many landlords have found out, not all tenants pay rent on time, and many tenants who don’t pay rent at all have a history of doing that. Just imagine selling the property as-is with your lousy tenant and getting on with your life – and not having to deal with tenants and their annoying troubles any longer. Many landlords love the new-found freedom they get when they sell and don’t have to deal with tracking down the rent.
You can go down the traditional way of hiring an real estate agent with their high commissions and over 3 to 6 months to sell your property. Or you can sell to an investor who is able to close in under 30 days and maybe even within 7 days. Check out this great blog post on, How long does it take to sell my house with an agent vs an investor to gain some incite. Today, many landlords are dealing with renters who don’t pay rent and are tired of it all. For those landlord, they just want to be done with it all, and reach out to inverters who pay cash for houses in Minneapolis St Paul, Minnesota .
At Minnesota Cash Home Buyers we buy frustrating rental properties from landlords like you who are burned out, worn out, frustrated, and who just want to get their lives back.