If you own a rental property but had a tenant trash it when they leave then make sure you read this article because we’re addressing the all-too-common problem that landlords have when they say, “Help! My last tenant trashed my New Jersey house!”
Do you own a rental property? Did you have a tenant leave it in less-than-perfect condition? It happens! In fact, it’s an experience that probably every landlord has faced at least once. If you looked at your empty rental property and said, “Help! My tenant trashed my New Jersey house” then here are some things you can do about it…
Tenant trashed rentals – Is it worth going after the tenant?
You need to first assess the damage and decide if it’s worth going after the tenant. Unfortunately, it often isn’t worth the hassle because it may be a time-consuming and even expensive effort to get the tenant to pay you back. However, if the damage is significant enough, you may choose to do this. Consider the cost of repairs, the likelihood of successfully recovering the costs from the tenant, and the potential impact on your relationship with future tenants. If the damage is minor and covered by your insurance, it may be more practical to file a claim and focus on repairing the property. However, if the damage is substantial and the tenant’s actions were intentional or malicious, pursuing legal action may be justified. Consult with a legal professional to weigh your options and determine the best course of action if needed.
Tenant trashed rentals – Is it worth repairing the damage?
From holes in the walls to missing toilets – we’ve heard of just about everything you can imagine! Sometimes a bit of drywall and paint will fix the problem, in which case you may want to fix it up and rent it out again, and then just accept the inconvenience as the cost of doing business. Determine the extent of the damage and the cost of repairs compared to the potential rental income. If the repairs are minor and the property can be restored to a rentable condition relatively easily and cost-effectively, it may be worth repairing the damage. However, if the damage is extensive and the cost of repairs is high, you may need to consider other options, such as selling the property or renovating it for a different use. Consider consulting with contractors and real estate professionals to determine the best course of action based on your specific situation. If the damage is not worth repairing yourself then you might be interested in a couple of other options:
Tenant trashed rentals – You could rent your house to a handyman
One little-known option that is actually really helpful is to find a handyman who wants to rent the house. In exchange for a discount on rent (or even free rent), they can fix up the house for you to make it a nice rental property again. Make sure you have a timeline all spelled out, though, to avoid them staying too long without a lot of work getting done. This can be a win-win situation, as the handyman gets a place to live at a reduced cost, and you get your property repaired at a lower cost than hiring a contractor.
Tenant trashed rentals – You could sell the house
Another option is to sell the house and move on from owning a frustrating rental property. However, be aware that if you try to sell the house on the open market, you may have to fix it up first in order for the agent to list it. Another option is to sell privately to a house-buying team like ours at Beacon Realty Investments. We buy houses in as-is condition and we’ll fix them up ourselves. This can be a convenient and hassle-free way to sell your property without having to deal with repairs or renovations.