Rental Property Tips From Mark

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There can be any number reasons a bad tenant causes you grief. Painting a room without permission, dogs annoying the neighbors, and not taking care of the property are a few examples. But a landlord’s worst nightmare has to be a tenant who is not paying rent. Here are a few suggestions to help you avoid this uncomfortable, frustrating, and financially damaging situation:

When you are looking for a renter, ask for references, check employment, and do a credit check. If your applicant has credit problems, a dodgy job, or stiffed the previous landlord, find someone else.

Put your lease in writing and give rental policy to them when they move in. Items to include are: when rent is due and what happens if it is late. By putting your policy in writing, it makes the arrangement clear and professional.

Enforce your rules. It sounds harsh, but some people will take advantage of you if you are flexible. If you forego the late fee “just this once,” you will send the tenant the message that your rules are made to be broken. Follow the policies you set out, and expect your tenants to do so as well.

Remove problem tenants without delay. If you adhere to the previous rules, the chances of getting to this step are significantly reduced. In the event eviction is necessary, however, have a set policy in place as well. Keep copies of all communication, including receipts for repairs and non-payment of rent logs. Hire a lawyer and proceed with the process of eviction.

If you ever have any questions real estate, don’t hesitate to contact me at any time. – MD