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The key to running a successful rental business is to have quality tenants. If you have a tenant who fails to pay rent on time, this means that you are losing money and you’ll need to take steps in order to protect your rental income. Usually this means an eviction will need to take place, however, legal evictions are costly and time-consuming especially for the independent landlord.
From legal fees and court costs, to property damages and lost rent, the true cost of an eviction can range from $3,500 up to $10,000. To give you an idea of how much you’d be spending, we created an infographic that illustrates the most common costs associated with an eviction.
An eviction is expensive, and by using a tenant screening service and running an extensive landlord credit check you’ll be in a better position to avoid having to deal with one. Screening with SmartMove can potentially save you thousands of dollars in eviction costs. Plus, you even have the capability of passing on the screening fee to the applicant. Protect your rental property and income by choosing an advanced tenant screening service like SmartMove to help you avoid bad tenants and evictions.
Know your applicant.
Remember that this material is intended to provide you with helpful information and is not to be relied upon to make decisions, nor is this material intended to be or construed as legal advice. You are encouraged to consult your legal counsel for advice on your specific business operations and responsibilities under applicable law. Trademarks used in this material are the property of their respective owners and no affiliation or endorsement is implied.