One of the great ways to diversify investments is to look at real estate. These properties offer opportunities for both capital gains (in terms of property appreciation) and income (in terms of rent). At the same time, it is important for landlords to understand how rent and eviction work.
A landlord is not allowed to begin the process of eviction without terminating the tenancy. This means that the landlord has to provide written notice that the tenancy has been terminated. Then, if the tenant doesn’t move, a lawsuit can be filed to evict in houses for rent.
Termination with Cause
It is possible for landlords to terminate the tenancy with cause. There are a few possible causes of termination with cause. One of the most common examples is when tenants refuse to pay rent.
If a tenant is behind on his or her rent, landlords typically give the tenant a few days to either pay the rent or move out.
Another possible reason why a landlord might be able to terminate the tenancy is through a violation of one of the terms or conditions listed in the lease. For example, a tenant might bring a pet into the building when there is a no-pets clause in the contract.
An Unconditional Termination in Houses for Rent
Finally, one of the harshest methods of termination is an unconditional notice. In this case, the tenant has no opportunity to pay the rent and has to move out immediately.
These are typically only allowed if the tenant has been late or missed rent payments repeatedly, has damaged the premises in a serious manner, or has engaged in illegal activities.
It is important for landlords to understand their options if they are renting out their properties to tenants.