How Much Does An Eviction Really Cost Text:
An eviction is something no landlord wants. Sometimes it is because the tenant went through a hardship and has no other option but to skip on rent, and sometimes the tenant is just a bad tenant to begin with. An eviction is a legal proceeding that requires specific steps to be followed. Failing to take the proper steps can lead to the eviction being denied costing valuable time and money. Please be aware of the laws in your jurisdiction on how to conduct a legal eviction to ensure proper procedures are being followed.
So What Does An Eviction Really Cost?
Doing it yourself
– This will cost you lots of time, money and possibly the price of a bottle of Aspirin.
So let’s evaluate it. First, you need to send a notice to pay or quit for non-payment. This is not a phone call, it is a written notice that must be delivered. It gives the tenant time to pay before you spend the money on an eviction. Check out our video on Evictions Part 1 http://www.951rents.com/2018/04/10/689/
Be careful if you accept payment or partial payment. This can require you to start the process from the beginning again, or be denied an eviction. If the tenant does attempt to pay the full amount due within the time provide, you must accept the rent. Failure to do so will likely lead to losing your eviction case. Some landlords do not accept any payment in order to proceed with the eviction, and some will take whatever they can get, knowing it may take 2 months to get the eviction completed. However, some tenants are “professional tenants” who know that by accepting a partial payment, the eviction process stops. They may continue to do this over and over. Some states allow a landlord to take partial payments and continue with the eviction process, and once again check the laws in your jurisdiction.
Remember
it is illegal to shut off utilities or change locks while a tenant is living in the property, even if they are not paying rent. (Don’t do it)
If you are going to do it yourself make sure you spend the time to learn and follow the proper steps. If you don’t you could lose more time, some more money, and a little bit of sanity.
Loss of Rent – $3000-5000 depending on rent, and how long the eviction process takes, especially if you do not do it right and need to start over, or worse yet, have to hire an attorney to fix your mistakes.
Court Costs – $75-$250 depending on where you are located. Be prepared to go back a few times
Sheriff Services – $75 and up depending where you live
Cleaning Fees $150-$500 depending on flooring, and what needs to be cleaned
Damages – $ can be anywhere depending on, and if, any real damages occurred
Misc. Costs – such as what to do with the tenant belongings should they abandon them, remember you have to give their belongings back, and there is a process for this before they are considered abandoned
Lock Smith – $100-$150 once they have vacated, and or been removed call the locksmith
Re-renting the property – Depending on what services you use for marketing and screening
Do it yourself evictions do not always pay off, and in fact, they can cost you more if you do not perform the process and procedures correctly. The best thing to do is to make sure you screen applicants before accepting them as tenants. Make sure they qualify with income at least 2.5-3 times rent, have job security, their credit is good and do not have a lot of accounts in collection. Also, make sure they do not have any evictions on their record. That is a tip-off you may be next.
Some landlords do believe all of this is not worth the effort or not worth the cost of a good property management company. Some companies like ours have a monthly service package that includes the cost of an eviction. We have screening tools and will make sure you can sit back and know all of it is taken care.
The bottom line to this article is if you can’t pay you can’t stay, and if they can’t stay, landlords are careful what you do and say.
