What's the best way to weigh eviction risks and costs against negotiating a settlement?
As a property manager, you may face situations where a tenant is behind on rent, violating the lease terms, or causing damage to the property. In these cases, you may consider evicting the tenant, but that can be a costly and time-consuming process. Alternatively, you may try to negotiate a settlement with the tenant, such as a payment plan, a lease modification, or a mutual termination agreement. But how do you decide which option is better for your bottom line and your reputation? In this article, we will discuss some factors to weigh when choosing between eviction and settlement, and some tips to make the negotiation process smoother and more effective.