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According to Eviction Lab, Milwaukee, WI, saw 14,348 eviction filings in the past year alone (2023). Compared to the pre-pandemic average, that's 10% higher!
With those high rates, you, as a Milwaukee landlord, should do everything possible to avoid being part of the statistics. After all, convictions are time-consuming and expensive; you'd have to pay filing fees and can lose income (e.g., unpaid rent, vacancies, and replacing tenants).
Luckily, you can safeguard yourself with eviction protection plans.
The experts here at Performance Asset Management (PAM) will explain these landlord protection programs in more detail, so please read on.
What Are Eviction Protection Plans?
Eviction protection plans are guarantees provided by a reputable property management company. The company guarantees that if they must evict a tenant they placed for the property owner, they'll cover all the legal costs associated with the eviction. In addition, the management provider will perform the following:
- Sign and serve all notices required to initiate the eviction process on behalf of the landlord
- Coordinate with the tenant throughout the pre-eviction phase
- Commence the eviction process if the tenant fails to remedy the problem they're facing an eviction for
- Recover the landlord's property and possessions
- Recover unpaid rent and other amounts due
So, with an eviction protection plan, you can safeguard yourself from the legal costs and headaches associated with evictions. You can also avoid navigating complex local and state eviction laws since your property manager will handle the legal process on your behalf. With their expertise, they can protect landlord rights while ensuring they don't step on tenant rights.
Protecting You Even Before Evictions
As mentioned above, an eviction protection plan covers eviction-related legal costs for tenants placed by a property management company. For this reason, property managers have the "incentive" to screen tenants carefully. Otherwise, they'd have to shell out money for the expenses they promised their clients they'd cover in case of an eviction.
So, to minimize their risks, a reputable property management company always performs comprehensive tenant screening processes, including:
- Credit checks
- Income or employment checks
- Criminal background checks
- Rental history checks
By conducting all that, a property manager can protect you from potential tenants with a history of giving their landlords a hard time collecting rent. They can also help you avoid renting to people with multiple previous evictions.
Most importantly, you can rest easy knowing that professionally screened tenants have no or low crime risk. Your property manager will assess them carefully to determine if they're among the 77 million Americans with a criminal record.
Let PAM Protect Your Property
Now that you know how eviction protection plans can benefit you, it's time to choose a reputable and highly experienced property management company.
Performance Asset Management (PAM) has over 15 years of work and industry experience providing high-quality property management services to Milwaukee landlords. As a full-service company, we'll screen your tenants, market and maintain your property, retain your best renters, and protect you from evictions.
So, contact us for a consultation today! We look forward to discussing how we can make your Milwaukee rental business more profitable.
