Posted by: phillipsre | August 6, 2015

Protecting Landlords from Trouble Tenants

landlordsAs a landlord of a rental property, there are many steps that need to be taken in order to legally protect you from your residents. The majority of the protection works comes at the beginning of the lease term, even before the tenants move in. This blog post from Multi-Housing News has a lot of great tips on how to stay protected as a landlord. Making sure the tenants go through a rigorous screening process is the first step to ensuring quality tenants. Setting up specific requirements to lease, such as income requirements and a higher credit scores are generally standard procedures, and will make a landlord feel confident that the residents can afford the rental property. Talking to previous rental references will also give you a good idea of how the residents take care of a property as well, which can give a landlord some peace of mind. Additionally, drafting a lease that is clear and specific is also important, so that there is miscommunication or questions down the road when it comes to lease terms. It is also helpful to keep an eye on the property, landlord visits and regular inspections can be written in to the lease terms in order to keep up on the maintenance of the property. If you do not live near your rental property, hiring a property management company to take care of tenant screening, enforcing lease terms and conducting routine inspections, can be a very important investment for your property.

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