Hi! It’s Tony Cline with HomeVault Property Management. We often get questions about our eviction and protection program, so I thought I’d explain it to you in a little bit more detail. What is eviction protection and do you need it?
We do a great job of screening our tenants here at HomeVault and one of the things that we’ve discovered is, everybody’s cashflow situation is a little bit different. Every landlord that we have has a different risk tolerance and so what we did was, we pulled out a program several years ago that was our eviction protection program.
I think we can all agree that 99% or 99 times out of 100 is really good odds. Even if we were able to screen tenants at 99 out of 100 times we were able to screen out the bad tenants and screen in the good tenants, if you were the one that draws the short straw the one time out of 100, are you ready and able to pay the additional expenses that come with an eviction?
Now here in Colorado, an eviction takes somewhere between 22 and 40 days, and it costs somewhere between $4 and $800 depending on how savvy the tenant is when they respond to the eviction notice. We rolled out this eviction protection program for a small flat monthly fee. If you enroll in our eviction protection program, we will cover the expenses for the eviction that covers the posting of the notice, the sheriff’s fees, the attorney’s fees, the court cost. It covers everything except for a jury trial.
In the event that we were to have to file an eviction on your tenant in your property, if you enrolled in our eviction protection program, we will cover all of those expenses. If it’s something that you’re interested in, feel free to reach out to me and ask me for more information or look in your management agreement, the onboarding package that we’ve provided.
The best way to reach me is Tony@homevault.com and I look forward to answering any questions that you have.