Iowa's post-Covid eviction rates have soared, breaking records year over year.
As a landlord, you never want to get to the point of evicting a tenant. Aside from it being a stressful and painful process for everyone involved, landlords have the added stress of financial loss. That said, poor tenants often leave you no choice but to file an eviction and turn the page on their tenancy.
In today's post, we'll explain the role of eviction protection in the process. By taking measures to prevent eviction, you can lower the risk of having a poor tenant in the first place. Eviction protection offers a safety net to landlords if nothing else works.
Keep reading and learn how to approach the tenant eviction process.
Prevention: The Best Type of Eviction Protection
Two things give landlords major headaches. The first is a long-term rental vacancy, which is partly up to the market and partly up to the landlord. The second is delinquent tenants who actively put the investment property at risk.
Rental Marketing
Both of these problems can be solved by a strong marketing plan and tenant screening practices. To appeal to the largest number of apartment seekers, you must put effort into marketing your property.
Write a thorough listing detailing the best parts of your rental and the local area, then add professional photos showcasing the property in the best light. Put that listing on the rental sites of your choosing and use SEO and paid ads to get more eyes on it.
Tenant Screening
Good marketing will give you plenty of applicants. Picking a name out of a hat is a recipe for having to deal with an eviction down the road. The best way to avoid evictions is by taking the time to screen tenants carefully and select the perfect one.
Perform criminal background and credit checks on the most promising applicants. You can even call past landlords and employers to get a better sense of what type of tenant they'll be. Going through this process will give you the best chance at finding a tenant who respects your property and sticks around long-term.
What Is Eviction Protection?
Eviction protection services are a form of rent payment security that property managers offer. When you sign up for eviction protection, you're financially covered if your property manager has to evict a tenant. Your property manager will also carry out the eviction on your behalf, providing as much landlord legal advice as necessary along the way.
There are many benefits to eviction protection. The biggest is the peace of mind you'll get knowing you won't have to pay out of pocket for poor tenant behavior. It's also nice to know that your property manager has the legal expertise to carry out a lawful and efficient eviction.
The Role of a Property Manager In Investment Protection Strategies
When you hire a great property manager, they become an important part of your investment strategy. They're an invaluable resource, offering countless property management tips, not to mention handling any or all of your landlord duties.
If you're a Council Bluffs property owner, PMI of the Midlands is the property manager for you. We offer comprehensive property management services including eviction protection, so contact us today to learn more about how we can help.
