On this episode of The Most Dwanderful Real Estate Podcast Ever, Dwan talks about the one thing that no one wants to do but sometimes has to be done: evictions. If your tenants violate any of the terms of your lease agreement, you can evict them based on the laws in your state. While late rent payments are one of the more common reasons for eviction, others could be damage to the property, unsanitary living conditions, more people living in the house than specified in the lease agreement, or having too many pets.
Dwan has found that if you evict tenants by going through the system and giving them a 3-day-notice, the tenants can sometimes become hostile and trash your property as a way of “getting even” with you. Of course, this costs you as the landlord a lot of money to clean up. So Dwan’s alternative plan is to go to the tenant and simply tell them that it is not working out for them to live in your property for the various reasons you have outlined and that you would like for them to move out by the end of the month. Since you know that moving is expensive, you will return their deposit plus an additional 50% of their deposit amount in cash to them if they leave the property on time and in broom swept condition. Ninety percent of the time, the tenants will take this deal and it is a win-win for everyone involved. If not, do not be afraid to evict them through the justice system and make their lives more difficult because they did the same for you.