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Updated over 9 years ago on . Most recent reply
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How can we make evictions a win/win?
http://justaskbenwhy.com/2015/10/28/how-much-does-...
I read @Ben Leybovich 's article today. It's obviously a bleak picture being painted in the article, but that's the reality of evictions.
This may be naivety on my end, or my undying optimism, but how can we make this a win/win?
Is it something we (investor/PM and renter) can assess prior to reaching this point where emotions get too high?
No wins in the situation painted in Ben's article. It's clearly a volatile situation, but can we take steps to helping tenants find more affordable housing?
Essentially, what I am proposing is a mutual break-up to put it in layman's terms. Investor/PM find a new tenant, renter can walk away, and deal with their new situation accordingly? Possibly us, putting them in contact with other local investors/PMs?
The obvious caveat is that this tenant has been a role model type tenant, but just fell on hard times. Why would we allow this situation compounded and snowball into the nightmare that was detailed in Ben's article?
Any thoughts, or experiences? Maybe I'm just a schmuck (that very well could be it) lol.
Most Popular Reply
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- Residential Real Estate Investor
- Kansas City, MO
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A lot of investors do cash for keys to avoid as much of the delay, eviction costs and possible damage from a tenant who's being evicted. One owner I know even offers to help them move. I think that's definitely a good way to go about it. The tenants are less likely to do damage, more likely to clean up and will be out sooner. You will also save on the eviction. But I wouldn't wait to file in these cases, it could likely just be another delay. And never pay anything until they are completely out, give you back the key and you are satisfied with the condition of the unit.