Have you ever rented an apartment to a tenant only later to regret it?

If you have been investing in either residential or commercial real estate for any length of time (shall we say, longer than a week} than chances are good that you probably you have.

Tenants, for better or worse, are the lifeblood of multifamily residential income property yet can be our rental property ownership experience worst nightmare.

Okay, you rented one of the units in your 6-unit apartment complex to what you perceived to be a quiet, peaceful, non-assuming, almost scholarly-looking fellow later to discover that he loves rap and does not mind cranking up the volume to one zillion because he wants every other tenant in your apartment building to love it, too.

Let us further assume that you acted like any responsible property owner, asked him politely the first time to quiet the music, and actually solved the problem for about three days. The second time you acted less timidly and squeezed out another couple of days.

Now, you have concluded that the kid is either stupid or deaf (we know that he is tone deaf, and probably stupid) and you want him out. Can you break the rental contract?

Well, the good news is that either the tenant or the property owner can terminate month-to-month rental agreements at any time as long as proper notice is given, typically 30 days. So in this case, serve the music-lover a thirty-day notice and reclaim the air space for your investment property.

When it comes to real estate investing, especially when the investment concerns tenants the proverbial saying holds true: It is always easier to find tenants than it is to get them out, so choose your tenants very wisely and with patience.

I believe I heard that spoken from a real estate investor who, after years of owning rental income property, looked about ten years older than his age.

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