In this episode, you’ll hear:
- Eviction alternatives to put on the table when the tenant technically didn’t do anything illegal
- Navigating communication with a tenant in tricky situations
- Conducting due diligence on tenant-occupied properties
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What to do when your tenant commits a crime
When your tenant commits a crime it’s can go from bad (something happened off your property) to UGLY (crimes happening on your property). It can be frustrating as a landlord when a tenant commits a crime on their property because it’s often not a basis to evict, whereas crimes on the property often are a basis to remove a tenant. Check your local eviction law to confirm what crimes are a basis to evict you. When you can’t remove a tenant who commits a crime using the judicial eviction process, sometimes alternatives like cash for keys may sweeten the pot for them to leave. Otherwise, if they are a good paying tenant to you, perhaps you decide to keep them in spite of their slip-up.
How to conduct due diligence on tenant-occupied properties
Tenant-occupied properties can be a blessing or a curse. Ideally, you want to find out if it’s a curse BEFORE you close on the building. Nightmare tenants don’t have to be deal-killers, but they should be accounted for in your purchase price. Due diligence on tenant-occupied properties should include not just a review of the lease, but also include a review of their security deposit, and any violations, and ensure the property has the proper zoning and licenses for its use. You’ll also want to get an estoppel agreement and letter of attornment completed before closing.
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Resources Discussed in This Episode
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