5 Ways To Ensure Trouble-Free Tenancies In Rental Properties
The best possible outcome for any landlord is when tenancies in their properties run smoothly with few issues reported by tenants. Of course, the reality is far different for many landlords, with some seemingly fighting uphill battles with some troublesome tenants.
You're likely reading this article today because you don't want the stress of dealing with tenants that cause you problems, such as not paying their rent or maliciously damaging your properties.
Take a look at the following five ways to diminish the risk of such issues from occurring with your rental properties:
1. Hire Professionals To Manage Your Properties
You're likely a busy person with many things on your daily agenda. The last thing you want is the added stress of dealing with tenancy or property issues with your rentals.
That's why it makes sense to hire a professional property management company to deal with that side of things for you.
They will take care of everything for you, from screening prospective tenants and collecting rent to ensuring any emergency repairs get carried out quickly.
2. Ensure Your Properties Are Well-Maintained
You don't want people to refer to you as a "slumlord" - someone that rents out unmaintained and unsafe properties - and you certainly don't want to deal with the legal consequences of being such a landlord.
Therefore, it's a good idea to ensure that all your rental properties are well-maintained. For example, you should conduct bi-annual checks on things like plumbing, electrical wiring, and lighting.
Doing so will reduce the risk of issues occurring, including ones that could potentially endanger your tenants.
3. Conduct Checks On Prospective Tenants
What checks are you carrying out on the people who want to rent your properties? It's essential you conduct thorough background checks on them, as it will mean the difference between renting to responsible tenants and those that have no intention of paying any rent.
You have the choice of conducting thorough background checks yourself or enlisting the services of a property management firm or a real estate agent. In any event, make sure you carry out the right checks to satisfy yourself that they are of good character.
4. Meet Prospective Tenants Before Doing Anything
If you're using a property management company to deal with everything for you, there's no point in reading this section. However, if you like to handle all aspects of each tenancy, make sure you meet with prospective tenants before agreeing to anything.
When you do so, you'll better determine whether they are suitable tenants for your properties or not. Moreover, your gut feeling will also help you gauge whether you can trust them to pay the rent on time and keep your properties maintained to a good standard.
5. Keep Communications Open
One final thing to do is ensure that you keep all lines of communication open with your tenants. You want them to know that they can approach you with any questions, queries, or complaints at any time during the tenancy.
