Boulder Landlords – Has Your Tenant Stopped Paying Rent?

What Boulder Landlords Do With Tenants Who Fail to Pay Rent

Are you frustrated by tenants who don’t pay their rent? If so, you aren’t alone because this is a very common problem, one that many landlords face every month. This article will cover the ways in which Boulder landlords are handling their deadbeat tenants.

Most landlords face this situation at one point or another if they’ve owned rental property for any length of time. Unfortunately, there aren’t a lot of ways to successfully deal with tenants who fail to pay their rent. But here’s what Boulder landlords are doing when faced with tenants who won’t pay their rent.

We all know that the best way to avoid this problem in the first place is to be extremely careful about who you rent to. You can do credit and background checks on applicants and have an iron-clad rental agreement for starters. But those provide no guarantee that you won’t have problems collecting your rent.

If you’re currently dealing with deadbeat tenants, here are some options to consider:

  • Avoid Confronting the Situation

You could play nice, hoping that they’ll pay up. This may not be your best option, but it’s the easiest and why a lot of landlords try this first. The idea is to ignore the skipped rent, hoping they will pay next month’s rent on time and perhaps even pay the back rent. But it is very unlikely that tenants like this will pay on time next month, much less pay what they already owe for this month. Since it’s always a possibility, we had to include it in our list of options. We certainly don’t recommend this option because it can give your tenant the idea that you’re a “push over.” The last thing you want is to encourage them to take even more advantage of you.

  • Try Negotiating

Negotiating is always worth a try. It could be that they just need their rent payment to coincide with their payday. Perhaps it would be easier for them to pay weekly instead of once a month. Or you could ask them if they’d be willing to do some maintenance work in exchange for lower rent. If you decide to go this route, make sure you get a signed agreement that works for you both, otherwise the problem will likely persist.

  • Evict Your Tenants

If all else fails, you can always try evicting them. This isn’t always easy; in fact, it hardly ever is because there are legalities that must be followed. If you are finally fed up and decide to get rid of your deadbeat tenants once and for all, you will likely need to hire a real estate attorney. And don’t be surprised if he/she tells you that a lot of laws actually favor the tenant rather than the landlord. But if you are at the end of your rope eviction might be worth it if you can get a tenant in there who will reliably pay their rent.

  • Sell Your Rental Property

You can always sell your rental property and finally be done playing landlord. When the frustrations keep piling up, this may be your smartest option! You can sell the house and spend your time enjoying life! Wouldn’t it be nice to finally be done with being a landlord and be free of all the problems that come with owning rental property?

We at Boulder Home Buyers are in the business of buying rental properties from burned out landlords who want to enjoy life without the frustrations of deadbeat tenants.

Click here to complete the online form or call us at (303) 442-0505 for a fair all-cash offer on your rental property today.

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