6 Tips For Dealing With Bad Tenants In Denver

Are you tired of dealing with bad tenants in Denver? Whether it is the property or the location attracting the wrong people, owning a bad investment property can be expensive and frustrating. Below, we offer 6 tips for dealing with bad tenants in Denver! 

Owning an investment property occupied by bad tenants can destroy your property’s profit potential. If they aren’t paying rent on-time, disturbing their neighbors or other tenants, causing damage to the property, or having more people living in the house than they should, you could end up losing a lot of money. Don’t let your investment property become a burden. Check out our 6 tips for dealing with bad tenants before they end up costing you time and money!

Keep Your Cool

If a tenant is in violation of the lease or is otherwise being a nuisance, your reaction can determine the outcome of the situation. Acting in anger, defensively, or failing to listen to there side of things will always escalate the problems. Instead, take an objective approach to what is going on, making every effort to resolve the situation peacefully.

Remind Them Of Their Lease

If you have a tenant who isn’t holding up to their end of the deal, take a minute to remind them of what their lease entails. Highlight specific sections and let them know exactly where they are in violation. Sometimes a simple miscommunication can lead to someone violating there lease when the hadn’t meant to. For example, consistently parking in the wrong spot, restrictions on pets, or limitations on guest staying in the house.

Call In For Backup

If you don’t have a property manager helping you out, it might be the time to hire one. A property manager will be responsible for collecting rent, dealing with complaints, and imposing fines if needed. When you work with a qualified property manager, they will handle the dirty work for you so you can sit back and collect your rent check each month.

Work Out A Compromise

If you are dealing with bad tenants in Denver, you can try to reach some sort of common ground. While tenants can be frustrating, they are human. Try to get to the root of what is going on. Maybe they are parking in the wrong spot because their car won’t fit anywhere else. Or maybe they have taken in a pet for a family member who is recovering from an illness. There are lots of reasons why people violate their lease. Before getting to upset about the situation, try to take a softer approach to find out exactly what is going on and the reasoning behind it. You may be able to get them to see your side of things without any further conflict.

Ask Them To Leave

If you are dealing with bad tenants in Denver, you can simply ask them to leave. If a tenant knows that eviction is on the horizon, they will likely want to leave the property before any official documentation has been filed. Let them know why you wish to terminate the lease and let them know there will be no repercussions if they simply walk away. Going through the eviction process can be expensive and time-consuming for a property owner, so sometimes having the tenant walk away is in the best interest for all parties involved.

Eviction

If it comes down to it, you can always resort to the eviction process. While this process isn’t fun for anyone, sometimes it is necessary. When evicting a tenant in Denver, you will need to make sure everything is filed properly, with the correct documentation. Missing one step of the process could put you right back at square one.

Let us help you handle bad tenants in Denver! Contact us today for more information! (720) 932-4402

Ken Blevins

Ken Blevins, CEO of Metrowest Real Estate Services, is a veteran in mortgage and default servicing with more than 24 years of experience in collections, foreclosure/bankruptcy, loss mitigation and real estate disposition (REO). Blevins was an original co-founder of Metrowest in 2003, a Real Estate Brokerage and Services Company focused on the resale, recovery and liquidation of distressed real estate in Denver, Colorado and surrounding metros. Blevins assumed the role of CEO in January 2014 and provides strategic direction and has management accountability for the day-to-day operations. Under his direction, Blevins drives all default management operations to maximize asset value recovery and reduce loss severity through a strategy focused on customer service and state of the art technology. Blevins has 18 years of direct operational experience in all facets of REO Asset Management having managed large national REO Disposition contracts for Fannie Mae, Freddie Mac, Wells Fargo, JP Morgan Chase, CitiFinancial, GMAC Mortgage and other various financial institutions. Blevins specialties include REO asset management, real estate investment, bulk REO acquisitions and distressed asset recovery and liquidation, and he has directed the resolution and liquidation of over ten billion in institutionally-owned residential real estate.

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