Are you experiencing difficulties with a tenant?
Where do you go from here?
One of the downsides of owning rental property in Portland, Oregon, is the uncertainty of knowing whether or not you are renting to a good tenant.
Do Your Due Diligence – Get Checks Done
Unfortunately for some landlords, despite their due diligence with conducting background checks and putting clauses in the lease for protection, they wind up with the tenant from hell. And sometimes, it is in the landlord’s best interest to evict the tenant and sell your Portland house Fast.
The following circumstances are indicators that it is time to pull the trigger.
When a tenant is in arrears on rental payments, it can put undue pressure on needed monthly cash flow. The landlord still on the hook for mortgage payments, taxes, insurance, and maintenance costs may experience negative cash flow and is now required to dip into other investments to cover the shortfall.
Once negative cash flow begins hurting a personal financial situation, it might be a good idea to evict the tenant and sell the home. Cash home sales can stop the negative cash flow in a hurry because they can be transacted in a matter of days when done professionally.
If a tenant trashes a rental property, sometimes the costs of repairs and renovation are prohibitive. The best way to determine whether or not to restore the property is to assess the damages, assess your ability to pay cash for the repairs, and assess the time period required for the repairs during which you will not realize income.
Doing so will help objectively quantify expenses and loss of income, to evaluate whether the additional investment is worthwhile. Fortunately, you can sell a Portland home in “as-is” condition for cash. You can sell the home quickly, avoid income loss and avoid cash investments to repair the property.
Like most in the country, the Portland housing market took a pretty hard hit over the recent past. For some rental owners, the loss of property value, coupled with a dim prospect for future appreciation, adds up to a financial picture that does not meet original long-term financial goals.
Taking stock of the numbers and how it impacts your finances both short-term and long-term may lead to a decision to sell the Portland house to avoid future shortfalls. Having reached a selling decision, one can sell a Portland house quickly with a house cash sale.
Professional real estate investors can provide fair value for the house and help you get your finances back in order.
If a disruptive tenant occupies your Portland rental property and you are also confronted with negative cash flow, property damage, and/or property depreciation. It may be time to evict the tenant and sell the house. You’ll probably come out ahead in the long run.
Have you ever had to evict a tenant?
Do you have a piece of property (house, lot, or land) you’d like to sell fast with or without tenant problems, we can help!
Please fill out our Sell Fast Form and get a cash offer within one hour of viewing the property.