My news feed today has been full of Residential Investors posting pictures of their properties which were trashed by filthy tenants, and discussions of the legal hurdles needed to evict tenants.
This is just another reason why I love Commercial Real Estate ;)
Lock em out?!!?
IMO, there's no such thing as filthy (or any other type of derogatory term to express what is really a LACK OF DUE DILIGENCE BY THE OWNER/PROPERTY MANAGER)tenants.
"Bad tenants" result from lack of due diligence pure and simple.
You make you money in real estate BEFORE your actions to buy/lease/sell - you realize it only after that.
9 times in 10 any excess damage or "filth "caused by tenants is as a direct result of negligence on the part of a property owner. Owners that actually trust tenants to take proper care of the unit are viewing life through rose coloured glasses. When regular inspections are carried out situations like this can be easily avoided by either doing repair work and direct billing tenants for the cost or terminating a tenants lease.
If a owner is smart enough to realise the advantages of M2M leases they have the tools to avoid the vast majority of tenant problems.
Are you implying that legal hurdles don't exist when evicting commercial tenants and all leave the commercial property in the same condition it was rented? If so, there's quite a bit of naiveté in your statement.
Providing management screens properly, you nearly mitigate the risk of residential evictions. Don't forget, people will always need a place to sleep. However, the same is not true for a commercial storefront. Not sure about you, but I'd rather properly screen tenants than deal with disruptive change created by companies such as Amazon.
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