We buy houses in Caledonia Michigan. Are you a landlord with frustrating tenants and does it make you want to sell your house in Caledonia MI? We’re homebuyer in Caledonia and we can help you with this kind of situation.
Have a Problem Tenant?
You are not alone! A problem tenant is the number one reason property owners cash out on their rental properties.
Each year thousands of property owners cash out on their rental properties for one reason or another. Could be financial reasons, maybe they need a lump sum of cash. Maybe they are tired of investing their hard earned cash on making repairs to the property. But the main reason owners cash out on their properties is…. you guessed it….problem tenants!
It’s every landlord’s worst nightmare. A problem tenant trashing their house. It’s one thing for rent payments to be late but there is nothing worse than walking into your once cared for house only to find trash everywhere, rotting food, water damage, holes in walls, broken appliances, clogged drains… the list goes on and on. In some cases a problem tenant can cause thousands of dollars worth of damages. The worst part is it can be a lengthly process to evict a problem tenant as tenants have more rights than you would like to think (check your local & state laws). This is why many landlords decide to sell and avoid the hassle of dealing with a problem tenant.
There are certainly ways to prevent a problem tenant destroying your home. Lay the ground rules early before they move in, have a good lease with plenty of protection built in for you, preferably written and reviewed by an attorney. Make sure you do your due diligence and pre-qualify each prospective tenant. Check references, credit history, eviction history. Verify income and job status. Although it will cost you extra money, it might be worth it to hire a property management company to handle everything that goes into a rental property including tenant pre-screening and lease signing. The unfortunate truth is, even if you do all of these things there is no way to know for sure if your tenant will turn into a problem tenant and make your life miserable!
Sell My House In Caledonia MI
If you have found yourself in a similar situation and have problem tenant, we’re Caledonia home buyer and we can help. We buy properties, as-is, in any condition, with or without tenants and do not require you to make any repairs. Click here to find out how we can help! We also offer cash for houses in Caledonia MI. Sell your house in MI area now!
Maybe you have a good tenant but the house isn’t cash flowing the way you would like. This could be another reason to sell. If you use the capital gains from the sale of your house and re-invest in another property, you can avoid paying taxes on the gain. This is called a 1031 exchange which is part of the IRS code. Just another reason a landlord may want to sell their rental property.
Check out my post to find out the other top reasons landlord’s cash out on their rental property!