Yesterday, I received a phone call from a lady that has been renting her home in College Station for two years. In two years, she has received 5 rental payments from her tenant. Now, that's a prime example of someone that needs a property manager! We'll be listing her home for sale after the eviction process is complete! I felt so sorry for the owner! She just didn't know how to file an eviction, lives out of town, and was at a loss as to what to do.
In nearly 20 years of property management, I have only had to follow through with a handful of evictions. Most of the time, I can make it very clear that there will be a judgement on the delinquent client's record for non-payment of rent if they don't move. Almost always, the tenant moves within a few days. A new tenant is promptly procured, and in some cases, we can even collect the delinquent tenants past due amount by making a payment arrangement.
If no payment arrangement is made, and the prior tenant makes no payments within 30-days, then the bad debt is reported on the tenant's credit. At some point in the future, when they get ready to move again, or buy a house, they often show up in my office to pay off the debt to clear their credit report.
This is just one of the services that our management company does for our owners. We diligently collect rent and bad debt. This is just one of the reasons a home owner that is renting property should hire a management company. It's a small fee to pay, but well worth the service.
I wish that I could have helped my new client out several years ago. Staying on top of her property would have saved her from the mounds of repairs that the home needs now. We could have collected her rent. She could have held onto her asset without frustration and throwing in the towel.
Often, small investors become frustrated when they self manage a property. Before that becomes you, contact my management company, and let's talk about how we may be able to help you maximize your income, and minimize your vacancy. Reliable Management manages property in Bryan and College Station, TX, and also Longview, TX.
