Tenants or Management – Both can be scary
The non responsive tenants or a tenant that does not pay the rent when due or may violate lease terms is considered a bad tenant. This also includes not keeping the unit clean and tidy, or allows mold or pest infestation to degrade the property. There are many other items that may label the tenants as being a nuiscence or problematic.
As Investors, we take pride in our rental units, and want to provide a comfortable, and safe habitat that is worthy of the amount of rent the unit produces. On the other hand, we also may use a management service to handle all tenant issues, complaints and repairs. A management company can also cause real estate stress if it is not responsive to the tenant.
Multi-family apartment dwellings, or campus style living also have their own unique issues for both tenants and Property Owners.
Having a bad tenant can result in decreased rental income and high repair costs that affect the return on investment (ROI) of a rental property. Intentional property damage, being bad neighbors, or violating HOA rules, are also concerns.
Check out our rehab that turned out to be the drug house in the neighborhood, as well as a hoarder home, making the neighbors scared. Rolling Meadows Court