The True Cost of Tenants Who Don’t Pay
The success or failure of property management in Fort Worth hinges primarily on one thing: tenants paying their monthly rent. Finding Tenants who will take care of your property and pay on time is not as easy as it may seem at first. The reality is that with the pressures of time and money, landlords may cut corners in the tenant selection or screening process. Additionally, with the technology at applicant’s fingertips to falsify documents or appear more creditworthy than they are, it’s essential to hire an industry expert from Specialized who is well-versed in the completing the process well and identifying these issues.
It’s worth the upfront cost. When a tenant fails to pay, you quickly lose profits. For example:
- If the Tenant fails to pay rent for one month: $1,500
- If you proceed with an eviction through court: $1,000
- If you have to repair damage to the home: $1,750
- If your tenant stays throughout the evictions process: $750
- If you have to repair damage to your home: $1750
- If you take 45 days to re-market your home and find a new tenant: $2,250
The total can come to more than $7,000. Compared to the monthly fee for property management, Ft. Worth homeowners get a bargain for their money when they hire Specialized to find tenants the first time around with the highest likelihood of paying rent. We have more than over thirty years of experience with property management in Fort Worth. Call us today capitalize on our expertise for your investment.