With the situation of the economy today, more people are losing their homes and renting. So this very short article is about home renters being able to deal with good and bad tenants when it comes to your real estate property.
Be particular about your tenants because you are essentially handing over possession of your house or apartment to a stranger. You may know a little about your tenant but you still wont know as much as you should. We know that most bad tenants pay late or not at all and can destroy your property.
Even worse, their bad behavior can cause good tenants in the same building to vacate and completely downgrade your property. When your property is going down hill somehow it gets around to other people.
If you're not using a property management company to screen tenants, check the prospective tenants credit and business references. If you are using a management company, they can also run credit checks through the major credit bureaus.
Some landlords won't rent to people who smoke or have pets. Prospective tenants who have children tend to stay longer than individuals or couples once they settle in and have their children in school.
To help prevent alleviate problems in the future, strictly enforce the late fee clause in your lease. In fact, enforce all the clauses in your lease. Otherwise, you could be asking for trouble down the road if you need to enforce the terms and evict a tenant for noncompliance.
A excellent rule of thumb is to treat all your tenants equally. Be professional and courteous at all times. That way, tenants will feel that you're being fair with everyone and will be less likely to cause any trouble later.
On the bright side of things, most tenants will be honest and cause no problems for you. Just make sure your tenants are screen to the best of your abilities so you can feel comptable with renting your property out from the start. If a managment company is involved, make sure you keep in touch so you can continue to feel good about what is going on with your property.
Be particular about your tenants because you are essentially handing over possession of your house or apartment to a stranger. You may know a little about your tenant but you still wont know as much as you should. We know that most bad tenants pay late or not at all and can destroy your property.
Even worse, their bad behavior can cause good tenants in the same building to vacate and completely downgrade your property. When your property is going down hill somehow it gets around to other people.
If you're not using a property management company to screen tenants, check the prospective tenants credit and business references. If you are using a management company, they can also run credit checks through the major credit bureaus.
Some landlords won't rent to people who smoke or have pets. Prospective tenants who have children tend to stay longer than individuals or couples once they settle in and have their children in school.
To help prevent alleviate problems in the future, strictly enforce the late fee clause in your lease. In fact, enforce all the clauses in your lease. Otherwise, you could be asking for trouble down the road if you need to enforce the terms and evict a tenant for noncompliance.
A excellent rule of thumb is to treat all your tenants equally. Be professional and courteous at all times. That way, tenants will feel that you're being fair with everyone and will be less likely to cause any trouble later.
On the bright side of things, most tenants will be honest and cause no problems for you. Just make sure your tenants are screen to the best of your abilities so you can feel comptable with renting your property out from the start. If a managment company is involved, make sure you keep in touch so you can continue to feel good about what is going on with your property.
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