Owning rental properties is one way that many Americans generate passive income. As rewarding as owning rental properties is, it also requires a lot of work and time. Landlords must ensure the property’s maintenance is performed, taxes are paid and sometimes have to deal with difficult tenants.
If you have ever dealt with a problematic tenant, you know how much stress this may cause. One common problem that landlords face with difficult tenants is finding damage on the property. So, what to do if a tenant damages the property? Our “we buy houses for cash Omaha” team has outlined these options if you find yourself in this situation.
Assess damage on the property
The first thing that landlords should do is assess the damage on the property. You need to identify what is normal wear and tear and what is considered property damage. Wear and tear damage is regarded as any damage caused by the tenant’s everyday use. Examples of wear and tear include:
Worn and faded carpet
Scuff marks on floors
Minor scuffs on the walls
Dirty grout around tiles
On the other hand, property damage is considered any damage due to use, abuse or accidents. Tenants are responsible for any property damage, even if they did not cause it. Examples of property damage include:
Holes in walls
Pet urine stains
Broken windows or missing screens
Watermarks in bathroom
Cut or burns on countertops
Know your state's laws
What to do if a tenant damages the property? If you have discovered that your property's damage is beyond wear and tear, document it and look up your state's laws. Every state's laws are a little different when it comes to landlord-tenant laws.
Taking this action first will help you figure out your next step, especially if the tenant still lives in the property. Here is an outline of the Nebraska Landlord-Tenant laws and regulations.
Decide if you are going to fix or sell the rental property
If your tenant has left the property, it is time to decide what you are going to do with it. Are you going to fix the damage or sell it? When making this decision, you need to consider the time and money it will take to fix the property.
Now, if you decide that it is time to sell the rental property, sell it to a “we buy houses for cash Omaha” company. This type of company pays property owners cash for their properties and buys houses as-is. This term means that you do not have to make any renovations on the property to sell. This option comes in handy when your property has extensive damage left by your tenant.
Contact a “we buy houses for cash Omaha” company!
If you are looking for a trustworthy company to sell your home to, contact us. We have been helping homeowners since 2019. Request your offer here.