Do you own a rental property and a tenant damaged it when they left? Wondering if you should sell your rental property? Then make sure you read this article because we’re covering the common problems that landlords have when they say, “Help! My last tenant damaged my rental property in Savannah!”
Do you own a rental property? Did you have a tenant leave it in less-than-perfect condition? It happens! In fact, it’s probably happened to every landlord at least once. We all know that no one will take care of your property as you would, and there are some tenants that are rougher than others. If you find yourself looking at your rental property and saying, “Help! My tenant damaged my Savannah rental property” then there are a few things you can do about it…
Should I keep the security deposit?
This is probably the easiest and most likely course of action that landlords can take when a renter moves out of their property and leaves it damaged. If you want to charge the former renter for damage upon moveout, then you need to make sure that a move-in inspection was completed when they signed the lease. There are numerous checklists you can find online, along with taking plenty of pictures and videos of the property prior to them moving in. If you decide to keep all or some of the deposit, make sure to provide the move-out inspection along with a letter stating the charges due to damage itemizing what they were charged for each occurrence. Remember that normal wear and tear is not covered in the security deposit, but undue damage or excessive filth generally is.
Is it worth going after the tenant?
Once you have determined that the repair costs exceed the security deposit, you need then decide if you should pursue legal action against the renter. Unfortunately, it often isn’t worth the hassle because it may be a time consuming and even expensive effort to get the tenant to pay you back. However, if the damage is significant enough, you may choose to do this. Remember to calculate all the repair costs along with the legal costs involved prior to starting the process. There is no sense in going to court for 2 thousand dollars worth of damage if it involves 7 thousand dollars in court costs.
Is it worth repairing the damage?
From holes in the walls to missing toilets – we’ve heard of just about everything you can imagine! Sometimes a bit of drywall and paint will fix the problem, in which case you may want to fix it up and rent it out again. That’s part of the business, and you accept the inconvenience as the cost of doing business. However, if the damage is extensive, then you might find yourself in a situation where it is not worth repairing. If you find yourself at that point, there are a couple of options.
You could rent your house to a handyman
One option that many people tend to forget is that you can find a handyman who wants to rent the house. You can work out a deal with them where they will fix up and repair the house in exchange for a discount on rent (or even free rent). This is a great way to help reduce repair costs. Make sure you agree to a timeline for repairs. You want to avoid procrastination by the handyman. If they wait until they are about to move out to make the repairs, there is always a chance that it will not be done the way you agreed to.
You could sell your rental property
Another option is to sell the house and move on from owning a frustrating rental property. However, be aware that if you try to sell the house on the open market, you may have to fix it up first in order for the agent to list it. If you don’t have the funds available or do not want to repair the house, you can always sell the property to a house-buying team like ours. We buy houses in as-is condition and we’ll fix them up ourselves.