Now is the best time to consider eviction protection plans for your properties in Louisville, KY.
One is that Jefferson County's eviction rates have historically been higher than the U.S. average. They then dipped during the pandemic, thanks to federal assistance programs. However, with these gone, eviction filings have increased again.
But how exactly can eviction protection programs help you as a landlord? How and where do you get them anyway?
We've answered all those questions in this guide, so please read on.
How Eviction Works in Louisville
If you must evict tenants in Louisville, KY, you must give them an advanced notice to leave. This allows for possible remedies to the broken landlord-tenant relationship.
For example, if you ask tenants to leave for nonpayment, you must give them seven days' advance notice. They can pay it within that week and ask you not to evict them. If this is the first time this happened and they've been good tenants, you can give them another chance.
If the tenant still doesn't pay within seven days, you can go to court and file for eviction. A judge then sets a hearing that you and the tenant must attend.
The judge listens to your and the tenant's stories during the hearing. If they issue an eviction order, the tenant has another seven days to appeal or vacate your property. You can't force the tenant to leave if the judge doesn't issue one.
How Eviction Protection Benefits Louisville Landlords
As you've likely gathered from the explanation above, evictions are time-consuming and costly. They can take weeks to conclude. And, if you don't win, you may have to shoulder your and your tenants' legal fees.
Eviction protection programs help cover some of the costs of the eviction process. These include your legal fees and court filing costs. Some of the most comprehensive plans can cover up to $2,000 of eviction-related expenses.
The program provider also handles the entire eviction process on your behalf. They'll act as your representative in court so that you don't have to deal with the legal battle yourself.
How and Where to Get Eviction Protection Plans
You can get eviction protection plans from a reliable, highly experienced property manager. They're part of a full-service property management program.
Your manager will handle all prospective and existing tenant relations. These include screening and placing high-quality tenants, collecting rent, and maintaining your property. Then, if they must evict a tenant they screened, they'll handle the eviction process (and costs).
What if you screened tenants yourself before getting eviction protection plans? You can still get coverage through your property manager. The protection kicks in after seven months from when you've subscribed.
Safeguard Your Investments With Eviction Protection
Eviction protection can safeguard you and your assets from unpleasant and expensive evictions. You can worry less about the sudden costs of removing a tenant who has breached the lease agreement.
You can expect all that and more if you partner with our team here at PMI Louisville. Moreover, our full-service property management company offers multiple guarantees, including an Eviction Guarantee.
So, speak with our expert team of property managers today! We'll be happy to discuss how we can shield you from the stress and expenses that evictions can bring.