1 Pitfall of Being a Landlord

There are many great things about being a landlord, but one of the more complicated issues that you may come across, especially as a new landlord, is if you must evict someone. Reasons for evictions range from situation to situation, probably the most common one being non-payment. If the tenant goes against other things that are specified in the lease that they agreed to, those may also be reasons for evictions.
The legalities for evictions range from state to state, some being more landlord-friendly and others being more tenant-friendly. In New York, for example, a landlord may lose a substantial amount of money for a tenant refusing to pay rent. They may have to wait five to six months to finish up the process of an eviction. They'll spend money not only on court hearings and everything else involved, but if the tenant is not paying rent, then they lose income as well.
The way to avoid evictions to the best of your ability is to properly screen your applicants before choosing a tenant. Criminal checks are a must, as a person sitting in jail for a crime cannot pay rent and it may complicate an eviction process.

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POSTED December 20 2013 10:32 AM

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