Non-payment of rent can be one of the most stressful situations for both landlords and tenants. However, over the years, I’ve developed a process that effectively resolves these situations without resorting to court or enduring lengthy eviction proceedings. It’s a solution that ensures fairness while protecting property owners' interests.
Here’s how it works:
1. Acknowledging Life Happens
First, I approach each case with empathy. Life can throw unexpected challenges, and my goal is to work toward a resolution that minimizes stress for everyone involved.
2. The Agreement to Exit
Instead of pursuing eviction, I offer tenants an option: they can be released from their lease early under specific conditions. These conditions include:
Continuing to Pay Rent: The tenant must agree to pay rent until a new tenant is found who will lease the property for the remaining term of their lease.
Reimbursing Paid Commissions: The tenant must cover any commission fees that were paid to the property owner at the start of their lease.
No Security Deposit for Rent: I never dip into the security deposit to cover rent. This is reserved strictly for damages or other end-of-lease expenses.
3. Marketing the Property
Once we have a signed agreement, I immediately begin marketing the property:
I list it on all rental platforms and promote it via social media.
The tenant agrees to allow showings with a 24-hour notice.
4. Keeping It Formal
I draft the terms into a clear, concise agreement that both parties sign. This ensures everyone understands their obligations and rights.
Why This Works
This approach avoids the time, expense, and emotional toll of eviction proceedings while ensuring property owners are not financially disadvantaged. It’s a win-win that maintains professional relationships and protects everyone involved.
In Summary:
Empathy First: Acknowledge the tenant’s situation.
Early Lease Termination Option: Tenants agree to:
Continue paying rent until the property is re-leased.
Reimburse commission fees paid to the property owner.
Allow showings with 24-hour notice.
No Security Deposit for Rent: Security deposits remain untouched for damages or other costs.
Clear Agreements: All terms are written, signed, and enforced.