“How much does it cost to evict a tenant?” is a common question! To help real estate investors understand the costs of eviction, we’ll walk them through the various stages of the procedure. There is no universal answer to this question. Generally speaking, evicting a tenant is more expensive than finding good tenants and maintaining rental properties in a way that minimizes eviction!
How Much It Costs to Evict a Tenant
To get a tenant evicted in Georgia, you must go through the court system and file a complaint. The charge for submitting a complaint varies from housing court to housing court but is often around $150. The sheriff’s department may also charge a nominal fee per renter for the delivery of a complaint or eviction notice. Obtaining a writ of custody from the county clerk to regain ownership of the property may incur additional costs if a tenant fails to reply to the complaint.
There are only a few little chores involved in getting the eviction process started. Thus these costs are justified. The expense of an eviction lawyer, court fees, and any other legal obligations during the housing court and removal procedure must also be covered by the property owner. According to how attorneys bill, legal services might be expensive or cheap.
Examining the Actual Costs
- Lost Income
One of the most common reasons landlords begin the eviction process is a tenant who fails to pay their rent. Removing someone lawfully from a property might take months in many circumstances. As a result, in addition to the unpaid rent, you’ll lose thousands of dollars in additional rental income while the eviction procedure takes place. With no rental revenue to offset these expenditures, you’ll still have to pay the building’s monthly mortgage and other charges, such as property taxes and insurance.
- Repairs for Damaged Property
If a tenant causes damage to your property as a result of their tenancy, you’ll have to cover the costs of repairs in addition to the eviction costs. The cost of property damage is difficult to estimate because of the many variables involved. The price of repairs and the removal of anything the evicted tenant leaves behind may never be reimbursed, even if you have landlord insurance to pay a few of the costs.
After an eviction, real estate investors can keep the security deposit and use the money to recuperate part of their losses. A successful eviction and a breach of the lease agreement are usually enough to justify withholding the security deposit.
- Turnover Costs
As soon as the eviction process is complete, it’s time to prepare the property for the next tenants. Repair expenditures to get your rental property ready for a new tenant were previously discussed. A complete make-ready process is also necessary to ensure that the rented property is clean and ready for new inhabitants. As a result, coordinating repairs and cleaning with vendors is a necessity. The property must also be thoroughly cleaned and disinfected.
A Property Management Company in Atlanta Can Save You Money on Evictions
Avoiding the eviction process is the most cost-effective option to get rid of a troublesome renter. Owners of rental property in Atlanta, GA, should expect better tenants and fewer evictions when they partner with the right property management company.
Tameka Manns Realty Group employs expert marketing techniques to draw in better tenants. We then conduct a thorough screening procedure to ensure that your homes are rented to the best tenants possible. The tactics we use in our real estate management also include ways to manage tenants better and enforce contracts while minimizing the number of evictions.