If you want to know how to go about doing this, we will share our tips on dealing with tenants who can’t pay rent!
The relationship between property owners and tenants has been quite contentious over the last year. Indeed, the pandemic has caused financial problems for everyone, and this has led concerned groups in Ottawa to call for rent strikes. This has put owners in a tough spot, with many not knowing how to deal with this issue.
Fortunately, not all is lost because there are ways to deal with this issue effectively. If you want to know how to go about doing this, we will share our tips on dealing with tenants who can’t pay rent!
Improve Your Screening Process
Before we even talk about solutions to the problem at hand, now is the best time to reassess how this problem came about in the first place. One of the best ways to do this is to reevaluate your tenant screening process.
The most important thing to do here is to be more thorough. You’ll want to verify all the information that potential tenants give you. Going the extra mile and looking them up online may yield good results. It would also be in your best interest to contact previous owners of potential tenants to get a better idea of what kind of tenants they were.
Moving forward, it will be best to hire a rental property management company to help you with the screening process. These companies are well-equipped to find the best long-term tenants for your property. In fact, they can even connect you with suitable tenants, making your life as a property owner infinitely easier.
Figure Out a Deferred Payment Plan
Now, to address the problem at hand. Given the situation, there are no easy ways out of this. The economic fallout of the global pandemic has caused a slew of financial problems for everyone. One way you can deal with it is to speak with your tenants and come up with a deferred payment plan that works for all parties involved.
This shouldn’t be too much of an issue as the federal government offers federal rent assistance programs for vulnerable renters. These programs are geared towards helping low-income families, indigenous people, and veterans pay rent during this difficult time.
Hire Professional Help
If a deferred payment plan can’t be arranged, it may be time to consider getting professional help from lawyers that specialize in property owner and tenant law. Navigating local and federal laws can be quite difficult, especially for those who have no experience dealing with these issues. Hiring a lawyer can help ease your problems and make resolving your current tenant issues as easy as possible. Getting legal help can even, if needed, help you evict a tenant. This is why we here at Fahel & Co, Ottawa’s leading rental property management company, provide our owner with legal help and representation when the situation calls for it.
Dealing with tenants who can’t pay rent is one of the most difficult issues that property owners have to deal with, especially during a difficult time like this pandemic. Hopefully, the tips listed above will help you address the problem as swiftly and efficiently as possible. At the same time, you should try to keep an open mind as it is in everyone’s best interest that you work with your tenants to find the best solution for their rent issues.
Fahel & Co is a residential property management company in Ottawa that specializes in providing property owners with high-quality service. Get in touch with us today to request a callback!