Five Common Orlando Tenant Issues We’ve Seen & How We Resolve Them for You
While renting property is generally a straight-forward business transaction, there are times where a tenant just doesn’t seem to be working out. As a property owner, you likely are not interested in dealing with negative situations that arise with problem tenants… unless you like conflict, in which case there’s a 12-step program you should be attending.
Hiring a dedicated property manager is the answer to achieving peace of mind. The Realty Medics use ‘rocket science’ technology that aggregates more than 100 web sites to carefully screen tenants, collect rent and ensure your investment property is generating a steady income for you.
Non-Payment of Rent
It’s been said that income shows a renter’s ability to pay; their credit score shows their willingness. We use a complex algorithm to accept only the best-qualified tenants for your property.
Occasionally things still happen. The Realty Medics have you covered though with our optional rent loss protection coverage. Our protection plan will cover up to 30 days of rent, ensuring you have a consistent cash flow regardless of late or non-paying tenants. If a tenant does not pay of the 19th of the month, we will ensure you are paid by the 21st of the month.
Past Due Utilities
Many a tale has been told of a landlord getting stuck with past due utility bills that were ultimately in their name as the property owner. Without proper contracts from the outset, these property owners ended paying thousands of dollars to cover the fees.
We save you the hassle and expense of getting left holding outstanding bills by using explicit language in the lease agreement. We require account numbers as proof of utilities in the renter’s name BEFORE they move in. This protects you from commiserating with that other landlord’s woes. Sorry (not sorry).
Willful property damage by unhappy tenants is, unfortunately, a common complaint. Compounding this issue is if the cost of damage was more than the security deposit or worse if they managed to use their security deposit to cover their last month’s rent. If a tenant trashes a home and disappears, you’ll want to rehab your property and get it back on the renting market ASAP and recoup your losses.
With our property protection coverage, we’ll cover up to $2,500 above the security deposit for the direct cost of property damages caused by a tenant. For the majority of issues, this mitigates the need for an owner to pay out of pocket to fix damages. Also, we never allow tenants to use their security deposit as payment for last month’s rent.
Unauthorized subleases and other breech of contracts
Imagine this scenario: you rent out a two-bedroom house to a couple. They turned around and sublease one of those bedrooms to another person without your permission to do so. Or they left and had another person move in and continued paying on the rent to avoid breaking the lease, again without your explicit permission.
We’ve found that permitting subleasing of rental properties only invites problems. Therefore, all of our lease agreements prohibit subleasing, making this a violation of the terms of the lease. Should this happen, we handle notification of the tenant and escalate legal action if necessary.
Illicit Activities on Premises
Did you know that if a neighbor or another tenant is injured or annoyed by drug dealing or other illegal activity in a rental you own, they can sue you as the landlord? Law enforcement can also levy strict fines or criminal penalties against you for allowing illegal activity to continue. In the most extreme cases, the government can even confiscate the rental property.
With our stringent background search, we weed out the majority of potential problem tenants by denying their applications. If trouble does arise, we work directly with the local authorities to quickly solve the problems on your behalf.
In the end, a good screening process for tenant applications and strict language in lease agreements can mitigate the majority of potential issues. Our outstanding technology tools allow you to rest assured we’re finding the highest quality tenants for your property. Have questions on how we can help you manage your properties? Call us at 321-947-7653 or fill out our contact us online schedule a consultation.
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If you want to experience Rocket Science Renting for yourself, The Realty Medics offers the lowest property management rates in Orlando. Contact us today to find out what your home will rent for by calling 321-947-7653 or filling out a FREE Rental Price Analysis.
Ben Sencenbaugh is a former NASA engineer who heads The Realty Medics, Central Florida’s #1 residential property management company. A loyal Orlando resident since buying his first rental home in 1997, Ben brings rocket science to renting, applying advanced technology to make renting single-family homes a better, simpler and more successful experience for owners and tenants.