Having a tenant who doesn’t pay their rent on time is one of the most common sources of stress among property owners and landlords. Unfortunately, it is somewhat inevitable in our line of business. Like it or not unforeseen situations can occasionally lead to a tenant not being able to pay their rent. Maybe they just lost their job and are in the process of finding a new one or a sudden illness has caused a delay. Maybe it was just an innocent oversight.
A good way to prepare for the situation where in your tenant couldn’t pay their rent is to have some money set aside as a cushion. When your tenant moves out, you will have to restore the property, release it back in to the market, and hope it doesn’t stay vacant very long.
Pre-planning is the best way to keep yourself out of any stressful situations.
Screening your tenant applicants and making sure that you only select the best is a fantastic way to avoid any future stress. Empire Industries uses a 20 point tenant screening process to select only the best of the best for your properties. Our proven system will take the stress of being a property manager away from your shoulders allowing you to focus on being an investor.
Investing can only be done properly with the right people to work with.
One of our goals is to help you succeed as an investor. You are always welcome to consult with us or talk to us about any concerns you have regarding property investment. Give us a call and schedule a one-on-one consultation. Contact us today.