Anyone that has been a landlord for any length of time, knows that the day will come when your tenant stops paying rent. If it hasn't happened to you yet, I can guarantee you that it will.
So what do you do when that happens?
There is always eviction. It is costly, time consuming and it's just an ugly process. In most cases it will take more than a month to get the tenant out depending on where you live. It is also very likely that they will damage your property to some degree. In many cases, you will find that the property has been trashed when you finally get it back.
What's one solution for preventing this scenario?
Cash for keys! If you are not familiar with this process for getting free loading tenants out of your property, take a look at the rest of this post. It's a whole lot less painful than eviction, and I have found that it is almost always a lot more cost effective.