According to an Urban.org article, the number of evictions filed in the District of Columbia in 2024 will likely reach pre-pandemic levels. The website also noted that an estimated 14% of the district's renter households are behind on their rent payments, putting them at risk of eviction.
As a Washington, DC, landlord, one of your primary goals should be to avoid evictions as much as possible, considering how timely and expensive they can be. The good news is that there are several ways to protect yourself from these costly legal procedures, including having an eviction protection plan.
So, what exactly is an eviction protection plan, and how does it work? Most importantly, what are the benefits of investing in this service?
Join us here at PMI National Harbor as we explore the answers to all those questions.
What Are Eviction Protection Plans?
Eviction protection plans are typically subscription-type rental property protection programs that reputable DC property management companies offer. Their primary goal is to shield landlords like you against the headaches and stress of lengthy and costly evictions in Washington, DC, often resulting from rent collection problems and breach of lease agreements. They're also a type of guarantee for the management firm's tenant placement services.
How Do Eviction Protection Plans Work and What Are Their Benefits?
In Washington, DC, evictions can take several weeks, even months, to conclude.
First, landlords must adhere to the Code of the District of Columbia § 42-3505.01. Under this law, landlords must issue a 30-day notice to tenants who have failed to pay their rent regarding their intent to file an eviction case. Then, depending on the tenant's response, the court may take several additional weeks to finalize the eviction.
Evictions can also cost hundreds, even thousands of dollars in filing and lawyer fees. There's also no guarantee you'll get all the money your tenants owe you.
With PMI National Harbor's property management solutions, tenant eviction assistance, and protection plans, you can worry less about those expenses and headaches. If you subscribe to our services, we'll screen prospective renters thoroughly, allowing us to determine their capability to pay the rental price you set for your properties and how responsible a tenant they are. In doing so, we can minimize your risks of evicting tenants for non-payment of rent or breach of lease due to bad behavior.
If we ever have to evict tenants we've screened and placed in your Washington, DC, property, we'll handle the entire process on your behalf and cover up to $2,000 of the associated eviction costs.
Ready to Protect Yourself From Evictions?
With evictions costing so much time and money, protection plans have become more of a necessity than a luxury in Washington, DC.
So, consider partnering with PMI National Harbor. Our eviction protection strategies and full-service property management solutions can help mitigate your risks for such costly, time-consuming legal risks. We'll use our real estate expertise and knowledge, plus the support of our parent company, PMI, a larger national franchise that has been perfecting the property management industry for over 20 years.
Contact us today, and we'll happily give you a free property consultation!
