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Did you know that the costs to evict one tenant can get quite expensive?
So expensive that if you didn’t run a tenant screening report the costs will far outweigh what you could have saved in legal fees and damages alone.
Below you will find some figures that show you what the typical costs are when faced with the decision to evict a tenant.
Potential Costs of a Formal Eviction:
• Lost Rent: $3,000
Unpaid rent before, during, and after the eviction proceedings (3 months)
• Lawyer: $500
Legal fees to an attorney, if you hire one.
• Court Costs: $150
Court filing and administrative fees (varies by county).
• Sheriff: $50
Fees to hire the Sheriff to execute the Writ of Possession.
• Locksmith: $150
To change the locks on the day of the eviction.
• Repairs: $1,000
Malicious damage and junk removal – although less since you didn’t lock them out.
• Cleaning fees: $500
Do you really think they are going to clean if you evict them?
COST OF FORMAL EVICTION: $5,350
Obviously, these numbers will vary depending on your rent price, county, and whether or not your tenant vacates willingly.
The above figures were Sourced from: landlordology.com
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