Would you be surprised to learn that eviction filings are on average 50% higher than they were before the pandemic?
It's true! COVID-19 impacted the rental market in Hillsborough, North Carolina, and many landlords are facing challenges. Tenants are facing hardships which, unfortunately, can lead to delayed rent payments.
As we move into a post-COVID era, evictions are hard to handle. You must be aware of the evolving housing market, procedures, and regulations.
This article will tell you everything you need to know, so you can protect your investment.
Communication and Negotiation
Before considering eviction, it's important to open the lines of communication between you and your tenants. Many renters are willing to work out a payment plan or discuss alternative solutions.
While this may not be ideal, showing flexibility can lead to a mutually beneficial agreement. Having empathy and working with your tenants can help you avoid the need for eviction.
Reviewing Eviction Laws
The laws surrounding evictions can change or be temporarily modified. As a landlord, you need to familiarize yourself with the regulations.
Consulting legal counsel or a professional within the industry helps provide you with the most accurate and up-to-date information. Before contacting your tenants about an eviction, you need to ensure you're following all the legal steps. You don't want to get yourself in a bind with the law and make the situation worse.
Documenting Non-Payment
If communication fails between you and your tenants, an eviction may become the only viable option. You'll need to show the court the validity of your eviction request.
This means you need to spend time documenting all communication efforts and nonpayment. If your tenants have broken another aspect of the lease, be sure to have that recorded as well. This will help the court make the right decision.
Tenant Evictions: Legal Process
Evictions can take time, and the first step is filing a complaint with the local court. You'll need to be prepared to adhere to specific legal processes.
This includes serving notices and providing your tenants with time to respond. Eviction cases are often complex, and understanding the legal process will help you navigate them.
Government Assistance Considerations
Since the pandemic, many people have been struggling economically and financially. Both the federal and state governments have provided assistance programs for renters and landlords.
You may want to consider exploring available resources and programs. They may offer some financial relief and help your tenants catch up on overdue rent. Evictions are a costly process and if there is an opportunity to avoid it, you should.
Landlord Advice: Evictions in a Post-Pandemic World
Hillsborough, NC, is a great place to own an investment property. However, to have a successful business, you'll need to stay up to date on the eviction processes and legal procedures.
By staying informed about evictions, you'll reduce risks and create a better environment for you and your tenants. Our team at Gates Management and Realty has worked with many property owners over the years. We know how to help you manage your investment through rental management.
Don't wait to get support and contact us today!