Residential rental property is the way to make money…or so some people claim. On the surface, it seems likes like a surefire bet; in reality, it’s usually more headache than it’s worth. The challenges start early, and they almost always involve time and money.
Being a landlord is not always what its cut out to be. Bad tenants are the largest challenge. Daily calls and late or unpaid rent can add to the hassles. Move-out day is another challenging time. Damage to walls, floors, carpets and other components of the home can lead to disputes and costly repairs. Since every moment wasted arguing is a moment the house sits vacant, you are often better off biting the bullet and paying for the repairs yourself. Speaking of which: You’ll probably need to take out landlord insurance – no, your regular homeowners policy isn’t sufficient – and that’s another item in the ongoing expenses column.
Evicting a bad tenant is a troublesome and time wasting process. Just checkout the process a landlord has to follow in Clark County in order to get rid of a bad tenant.
“An eviction for any of these types of reasons must involve egregious and repetitive conduct — a landlord is probably not going to be successful if he tries to evict a tenant for accidentally breaking a doorknob or having a dinner party that draws one noise complaint,” Hernquist said. “On the other hand, he most likely would prevail if the tenant is using the premises as a meth lab or practicing chainsaw sculpture.”
But either way, there are proper forms and a legal process that can take time.
“I have seen tenants stay a year rent-free,” Las Vegas attorney Andrew Pastwick said. “Bankruptcy prevents evictions.”
As a landlord does this sound like your situation? If you just want out….no worries….we’ll buy your rental property AS-IS and handle all the headaches. You’ll receive an all cash payment, plus you won’t have to pay any real estate commissions, closing costs or have to show your property.
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