Warner Quinlan provides an eviction protection plan to our Orlando property management owners, which is a service we developed in response to the growing needs of Orlando rental property owners. Over the years we have found ways to be responsive to the changing needs of our owners, and we have noticed that owners are becoming more and more reluctant to enforce their leases. They are afraid of evictions.
Eviction Costs
The hesitancy to pursue an eviction is understandable. Property owners don’t want to take legal proceedings against a tenant, and they also worry about the cost. An eviction can cost several hundred dollars, and even a thousand dollars or more. Plus, you have to worry about the lost rent you incur when a tenant is in your property but not paying.
Eviction Protection Insurance
Our eviction protection insurance covers you in case you find yourself in the terrible position of having to evict a tenant. For the small monthly fee of $6 per month, we cover any eviction. We will enforce the lease, and get possession of your property back if the tenant becomes delinquent. This demonstrates our willingness to stand behind the tenants we put in your property.
Rent Protection Plan
The eviction process in Orlando can take four to six weeks, and even longer if the court is busy. So we also have a rent protection plan. The rent protection plan is a modest $9 per month and fits with the eviction protection plan. The total for both is $15 a month. In the period that the tenant is being evicted, that tenant is not paying rent. You’ll have a gap in rental income. The security deposit that you use traditionally covers the first 30 days of lost rent. If there are another 30 days while we’re trying to get possession of the property, you’re going to have a disruption in your cash flow. We will cover that 30 days, giving you a 60-day window of protection. This is enough time to complete the eviction, get the property ready and find a new tenant to put in place.
It’s a small monthly cost and we stand behind our tenants. You’ll have the assurance that in the event of an eviction, no matter how unlikely, you’ll have rental income covering that eviction period.
If you have any questions about this eviction protection plan, please contact us at Warner Quinlan.
Mark Pagdin
President/Broker Warner Quinlan, Inc.
For more than 20 years, Mark has managed his and clients’ investment portfolios, garnering him the unique perspective as both owner and property manager. His blog series is an invaluable tool for investors looking for guidance on property management, purchases and acquisitions.
