How to Ensure Tenants Look after Your Property
The most troublesome aspect of being a landlord is tenants who damage your property, from complete trashing to total destruction, and even worse. There are plenty of horror stories around about what tenants can to a rental.
And, if you think finding a good tenant depends on luck, you couldn?t be more wrong, or else why don?t you work to ensure luck favours you, at least, in relation to the right choice of tenant. That means taking the following measures to reduce risk concerns that will guarantee the well-being of your rental property.
First, adopt Tenant Screening, which is the magic mantra of all successful, savvy landlords. How many landlords can confirm they carry out a complete tenant screening exercise, when looking for prospective tenants? Not many if gauged from the horror stories that float around about property damage! To get a good tenant, a landlord must be thoroughly professional about the entire tenant screening process, and verifying past landlord references is an essential part of every standard screening process. Call them and question them about prospective tenants.
Second, as an important part of the screening process, visit or at the very least, drive by the property the tenant intends to vacate, in order to assess its physical condition. The odds are your prospective tenant will treat your property in the same manner he / she treats their current rental home.
Third, photograph and videotape as in before and after advertisements, in the presence of the tenant after he / she has finished signing the lease. This evidence will ensure tenants look after your property as if it were their own. After all, if taken to court, the before and after evidence ensures law is on your side, no matter what argument the defendant might put up.
Fourth, before handing over your property prepare a complete Property Condition Report documenting the state of your property. Go over it with the tenant and once he / she has signed the inventory and condition checklist, he / she is on record, and you have another legal document, in addition to the lease.
Fifthly, before handing over possession, take a substantial sum as security deposit including the first month?s rent. With so much at stake, the tenant will ensure he / she looks after your property well.
As long as you follow the above steps, you will be able to find a responsible tenant to take good care of your property.
To know more, visit our website E-Renter.com
Related Articles:
Describing Intellectual Property in Your Business Plan
Most companies that are worthy of raising venture capital have proprietary Intellectual Property (IP). In fact, the quality of the IP and the management team are often the two most important aspects of a venture capitalist's investment decision.
Closing Costs: Title Insurance & Property Tax
If you're in the market for a home or have purchased a home you're all too familiar with closing costs When it comes to closing costs the list seems to go on and on
Vacations Made Easy: Buying a Florida Investment Property
Vacations Made Easy: Buying a Florida Investment PropertyA relaxing beach vacation means different things to different families. However, imagine returning from a long day in the sand and waves, hair dripping and tan glowing to a place where you and your family have settled over the years.
Real Estate Investing-6 Ways to Buy Property No Money Down
Is it possible to buy property for no money down? Of course--there are many ways to totally finance the purchase of real estate. It just takes some imagination and some O.P.K. (Other Peoples Knowledge). Here are six ways to buy property using very little or none of your own money&
Quick Profits with a Property Tax Sale
Different resources appear for the savvy real estate investor and to take advantage of them is to make some serious profits. Each of the resources has a different time frame involved with it and as such you have to learn which ones will produce the fast money and which require patience. The main point to be made here is the fact that you can easily turn a profit if you are involved with the right methods. This speaks to the need to learn all that you can about real estate investing resources.
Property Owners Get the Most Out of Their Billboard Space with New Service
New service (www.outdoorbillboard.com) helps landowners with billboards on their property negotiate with the billboard companies.
Propertyshowrooms.com Reveals the Top Ten Countries for Property Investment
International property company Propertyshowrooms.com takes a detailed look at the current demand for world real estate, with some startling results.
Investing in property in Bangalore
Bangalore, Indias Silicon Valley, gained its reputation as one of the most preferred investment destination, a decade back when IT boom hit the city. The gardens, the temperature, the Cosmo feel, the multi-cuisine and diverse culture are just some of the reasons why people love to settle in the city as well. Plagued by some concerns, the city makes for a perfect destination for the investor and the settler.
A Guide to Buying your First Rental Property and Becoming a Landlord
I have read a lot about how you have rule with an iron fist to keep your tenants in line. Our philosophy is much more laid back, and it has worked out well for us. Every property is different, but this was our experience.
Macquarie Bank signs Equity Deal with Specialist Property Investment Group - Aviate
Macquarie Bank ("Macquarie") today announced it had signed an 'equity deed' with the Aviate Group Pty Ltd ("Aviate") that enables it to acquire a stake of the specialist property investment company in the future. Under the terms of agreement, Macquarie can convert the 'equity deed' into a 30 per cent stake of the company providing both parties fulfil agreed terms and conditions.