Is This Happening To You?
The tenant is playing you, most probably emotionally, and making you feel guilty because of family or friend relationships. They want their financial problem to become yours! They want you to become their bank, their lender.
They will emotionally play you, to make you feel that you are they bad guy, because you are requesting your rent, in full and on time! You feel sorry for them, but you still have a mortgage, taxes, and insurance due. Every day the property is costing you money and worry. You don’t want to evict them, but you cannot keep this up!
Of course if you have a great property manager and property management company, such as Pyramis Company, on your side, this need never occurs. Unfortunately, once you are in trouble it is too late for that.
We realize that many landlords who go it alone, or who go through real estate agents with little or no experience in property management, often get themselves into atrocious situations.
Even if you have the money to sort it out, removing your tenants can be a costly, stressful business but if you are short of money it can be much, much worse. We hear of landlords all the time without the cash to pay attorneys fees, or even if they do, they don’t have the cash to put their property back into rentable condition.
No wonder so many landlords get discouraged and liquidate their properties, ending their dreams of financial freedom and independence. It doesn’t have to be that way. With our help we can put you back on track.
A Recent Case History
A recent case where a client came to Pyramis Company having bought an investment rental property and now with a tenant three months in arrears on rent and not answering calls or emails. They were unsure of their authority as Landlords, their rights, obligations and their legal position.
They were having no success collecting back rent. This situation was causing them a lot of distress. Due to our experience and expertise Pyramis Company was able to step in and get the situation under control. We served the tenant with proper notice and moved forward with an eviction. The property was cleaned up and in short order, a new qualified tenant was placed.
So, are you here? The tenant hasn’t paid the rent in months, every month it is a different excuse, your property has been trashed, and you haven’t had to deal with evicting a tenant before. Pyramis Company stops the excuses, and has extensive experience with “Rescuing Landlords” from tenants who are not paying rent.
How Does It Work?
The sad reality is that rarely, if ever, do tenants get caught up. They would rather play you and game the legal process, stiff you with unpaid rent, move onto another unsuspecting landlord, and let you file a judgment lawsuit upon them; which they don’t care about, because they have many others in front of you.
Either the tenants are in control of your property or you are. And, it is totally your choice. It is far better to cut your losses as soon as possible, then to continue the financial bleeding.
If you decide to engage in our services, we will notify the tenant of the change in management, place them on a strictly enforced payment plan if possible, or ask them to vacate the property. If the tenant fails to comply, we will quickly proceed with the eviction process. Tenants will be posted with a Notice to Vacate, documents recorded with the appropriate court, and a representative from our office will appear on your behalf for court proceedings.
To put you back in control, we will:
- Try, for a very predetermined period of time, to work with the tenant, and get them financially current, to start paying rent with an updated lease agreement; and if they are not totally compliant, then,
- Get the eviction proceedings under way
- Our representative to appear in court to obtain the eviction and judgement
- Clean up the property and get it “rent ready” for the next tenant
- Market the property
- Place a new tenant
This service is available only as part of an ongoing property management contract.
The cost for this service is a flat fee of $300 plus expenses for the eviction. Because we don’t have an attorney on staff, after a management contract is signed we will engage a legal service, only as necessary, on your behalf to pursue the eviction. Eviction expenses can be as little as a few hundred dollars for simple evictions, or go into the thousands of dollars for very complex ones, all depending on the situation and how it’s handled. To restore a property back to “rent ready” condition for the next tenant we will coordinate the activities of vendors as required.
Consider this, add up another two to three months lost rent, on top of what you have already lost, plus thousands of dollars of property damage that a disgruntled tenant is costing you now.
Property repair after eviction
Once the tenant has vacated you will receive a thorough property report. The report will document with photos, the exact condition of your property. Our vendors will submit estimates for any repair and cleaning needed to get your property ready for the next tenant. To repair the property and make it “rent ready” for the next tenant we will coordinate the activities of vendors as required.
Please contact us! We welcome the opportunity to work with you, and to assist in making your properties worry-free and profitable!