Selling a Property In Tampa, Clearwater, St. Petersburg with Troublesome Tenants, Squatters, and Family Members

Renting your property to tenants is a great way to maintain a passive income so that you can enjoy a financially stable life. Rented houses in the US are more common than you may think. There are around 43 million rented houses in 2020 that are owned by families with medium sized incomes.

While renting out your home is a great way to earn cash flow. It could lead to several problems if you have to deal with troublesome tenants, squatters, or family members. You should know that as a landlord, you have a few rights you can use in these kinds of situations. We are going to discuss the rights you have as a landlord in the Hillsborough County and Tampa Bay area, if you find yourself having to deal with troublesome renters or squatters on your property.

How to Deal With Troublesome Tenants, Squatters, and Family Members

Dealing with troublesome tenants is a serious concern but there are a few things that you should know. The following are some options for selling a house with bad tenants:

1. Wait for the Lease to Expire!

The easiest way to avoid conflict with troublesome tenants is to stay patient and wait for their lease to expire. This could be anywhere between a few months to a year depending on your lease agreement. The tenants would vacate your home when their lease expires and will have no other option but to vacate and leave the premises. If the tenants stay past their lease expiration date and are resistant to move, you can then proceed on taking legal action. However, this kind of situation is very unlikely once the lease expires.

2. Consider Eviction Proceedings.

If the tenants violate or do not adhere to the lease agreement. Then you have the legal right to evict them from your property. This involves going through the proper local and state government guidelines and completing the eviction process. You can challenge your tenants in a court of law if they do not leave after their lease expires.

Getting help from a lawyer could also be beneficial as they can guide you on the proper steps to take and counsel you through any legal issues that might arise from the situation.

3. Consider Paying the Tenant.

If the tenant does not vacate the home despite all of your attempts. You can offer to accommodate them monetarily to ensure they leave the premises without inflicting unnecessary damage to the property. This includes offering to pay their rent for their next accommodation for 2-3 months.

Most tenants will likely agree to this as they would have enough funds to put down on another rental and not feel trapped or forced to stay at your property due to lack of funds. The best part is that this will only be for a few months and it would help recover your property entirely.

4. Have the Tenants Purchase Your Property.

If the tenants claim they do not wish to leave because they have an emotional attachment, memories, etc in your rented home and do not want to move anywhere else. You can see if they are qualified to purchase your rental property. After agreeing and securing a negotiated market price. You can let your tenants own the property permanently. The tenants get the house and you are able to cash out and walk away! It is a win-win situation.

However, the terms of sale and purchase may vary depending on what you agree on. Nonetheless, it is a great idea because you sell a property that created a headache for you and you no longer have to deal with tenant issues that disrupt your day to day living. Remember, you can always use the money from the house and invest in another property or a different asset class like stocks or cryptocurrency.

5. Sell to a Real Estate Investment Company.

There are many real estate investment companies out there who will buy homes that have been damaged by troublesome tenants. These real estate investment companies can handle the property and the tenants themselves professionally, ensuring you don’t have to worry about these problems again.

These companies pay sellers in cash for their property with the goal of fixing and flipping to other potential buyers or keeping the property as a rental for their portfolio.

5 Ways to Deal With Troublesome Tenants

Understand Florida Tenant Rights Before You Take Action!

If you are dealing with problematic tenants, you should refer to the tenant laws in the state of Florida before taking action to make sure you are in compliance with the law. For instance, in the US, anyone who stays in a house for 30 days or more on rent qualifies as a tenant. Therefore, you as a landlord need to deal with these tenants accordingly.

The easiest way to keep this fully professional is to take professional help from a lawyer. You should then document and inform the concerned authorities and request new eviction proceedings as soon as possible so your troublesome tenants can receive notice and make decisions on how they will proceed with the process. You can then move ahead with the eviction process once the eviction notice period has been completed.

Hand it Over to Professionals

Lastly, if you think there is nothing you can do about the troublesome tenant situation, you can always sell your property with a real estate professional. These professionals understand how evictions and tenancies work and can deal with these problematic individuals accordingly.

You can also get a good price for it in the market if you look for firms and individuals who have no problem dealing with such properties.

The Bottom Line When Dealing With Troublesome Tenants, Squatters, and Family Members.

Dealing with problematic tenants, squatters, and family members can be a serious problem especially if you do not like conflict or you need to sell your property fast. Keep in mind you have the right to evict tenants out of your property if they violate your lease agreement. Just make sure you are following Florida law when it comes to dealing with Tenant Rights.

If you are having issues with a troublesome tenant or want to consult with us about your options for selling your property. You can reach us at 813-666-5765.

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