God I Love Texas Eviction Law
So I just finished up my first eviction proceeding. Tenants did not pay November rent, and the constable will be at their door at 9:00 am on Tuesday, December 3. The only reason it took that long to get it done is that I lost a week trying to work with them and the constables are backed up. I am thrilled at how quick and easy the process is.
This is a factor that does not mentioned as much on the forums, but I have come to believe an important factor to consider in making a decision to invest in a particular market is the strength of landlord/tenant laws. (I'm not suggesting it's determinative.) Evictions can be very expensive with lawyer fees, lost rent, and destruction/deterioration of the property. All the pro forma cash flow in the world won't do you any good if you end up with a squatter tenant in there for months not paying rent and letting the place deteriorate. (I hear about how it is in CA and the northeast and my skin crawls.) Yes, I know you can minimize your risk by good screening and yes, everyone believes they are bullet proof, but if you get enough units and do it long enough, it will happen to you. Period.
I've also come to believe that the strength of the landlord/tenant laws really has an impact on the day-to-day relationship between landlords and tenants. By being able quickly get them out of the unit if they screw around, I generally negotiate and landlord from a position of strength. I'm not suggesting that anyone should abuse this position, but it's comforting to know that I have strong laws and court systems to turn to if it goes south.
I realize from a financial perspective, it's a loss going the eviction route, but part of me is really enjoying the whole process. It's kind of fascinating to watch the legal system working the way it's supposed to, in an efficient and fair manner.