Maintenance call coming in at all hours of the night? Neglect? Abusing the property? What about squatters (illegal tenants)? Squatting is a real life situation that we deal with all the time, like in this case:
A lady we worked with bought a rental property in partnership with another man. The plan was to purchase the property under her credit and he was going to take the responsibility of fixing up the property to rent.
Turns out, his friends all moved in and never paid a dime in rent. They were professional squatters. While all the financial responsibilities fell on her, they took advantage of living in her property for free! They ever had any intention of fixing up the place or paying.
“Squatters rights” also known as “adverse possession” means that a trespasser is essentially trying to gain legal title to property by continuous possession. The laws in Texas and Oklahoma protect landlords in that a squatter has to meet strict requirements to have the opportunity to possess the property. In Texas they can’t even begin to claim ownership until they have been living continuously there for three years. In Oklahoma, it’s fifteen years.
While this presents a hassle for you as a landlord, handling the situation immediately and through the correct legal channels is the best course of action. If you need legal partners, we can help.