Nipping problem tenant in the bud

Landlords go the extra mile to minimize disruption

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Q: I manage a very large rental property and while the majority of our residents are great, we do have an occasional "problem tenant" who is making life miserable for neighbors. Is there anything you can suggest? A: You may be able to negotiate a voluntary move-out with your tenant. Some rental owners have negotiated agreements with their problem tenants in which they forgive the unpaid rent if the tenant agrees to leave by a mutually agreed-upon date. Other owners have agreed to refund the tenant's full security deposit immediately after the tenant has vacated the property (as long as no significant damage has been done to the property). Although you may feel strongly that your tenant should keep up his end of the lease, you may come out ahead by avoiding legal action and not having to worry about the problem anymore. You are also minimizing the chance that your problem tenant will chase away the great tenants that you want to keep. Of course, you should never c...