5 Types of Problem Tenants and How to Deal with Them
Property management is as equally tasking as it is rewarding. However, for most property managers, bad tenants are the most prominent and also the most common challenge. Even with the best tenant screening system in place, these problematic tenants can still end up in your rental properties. Unfortunately, they will make your life as a property manager a living hell. Knowing these characters beforehand will help you learn how to deal with them without making your life even more difficult. That is why I have outlined the five types of problem tenants and how to deal with them below.
1. The Late-Rent Payer
In a utopia world, the relationship between a tenant and a property manager would be pretty straightforward. That is, the tenant pays their rent before or on the deadline and the property manager processes it and takes care of the property. Unfortunately there is no such thing as a perfect world, and as the property manager, you will likely come across tenants who always pay their rent late.
Though there are times when even the good tenants may pay rent late, I am referring to the type of tenant who will usually pay rent whenever they deem convenient. This is nothing short of frustrating as it disrupts your accounting plans significantly, and can create just more and more paperwork. Here’s how you deal with this type of problem tenant:
1. The Late-Rent Payer
In a utopia world, the relationship between a tenant and a property manager would be pretty straightforward. That is, the tenant pays their rent before or on the deadline and the property manager processes it and takes care of the property. Unfortunately there is no such thing as a perfect world, and as the property manager, you will likely come across tenants who always pay their rent late.
Though there are times when even the good tenants may pay rent late, I am referring to the type of tenant who will usually pay rent whenever they deem convenient. This is nothing short of frustrating as it disrupts your accounting plans significantly, and can create just more and more paperwork. Here’s how you deal with this type of problem tenant:
Don’t Be Emotional, Create a System and Stick to It
Late payers will continue with this bad habit and eve……