When it comes to Property management, it can be made tough by some terrible tenants. Some will pay rent late each month, while others, will tend to be careless, damaging your property and being careless. The majority of property owners do face the hassle of having to deal with tough tenants at some given point, and it is not something easy. Fortunately, a day late and dollar tenants and the bull in the china shop are some of the common problems that you will encounter while dealing with tenants:
Bull in a china shop
Damaging property is a large problem for most landlords not to mention expensive ones. Certain tenants don’t care for the property the way it should be done, while for others, they might decide to come up with unauthorized improvements. Being a landlord, there is a need to take steps to prevent or avoid such terrible tenants by doing the following:
- Come up with a well-written lease: Spell carefully the expectations when it comes to maintenance expectations before the home is possessed by the tenants
- Come up with a detailed move-in inspection: Get photos and document carefully the condition of the property. It is going to give you something to use in comparison with when the tenant moves out, which will allow you to charge for any damages lawfully.
- Conducting routine inspections: It is something that you have to put into practice for your rental property. In a year, do two inspections of the property for any concerns for maintenance that might be needed. If you realize that the tenant isn’t keeping up with the property, there is a need to address it as soon as possible rather than waiting to do it later.
A day late and a dollar short
It doesn’t have to come as a surprise non-payers or late payers make the top of the problems which are encountered by landlords from their tenants. No payments, late payments, partial payments are likely going to cause havoc on the financial well-being of any landlord. No matter how hard you are going to try, there are chances that your financial well-being as a landlord will be affected. To ensure that you limit it from occurring, then you have to do the following:
- Rigid policies: The lease that you come up with has to spell out the exact procedures for the payment of rent and what is likely to happen in case the tenants make late payments. You have to advise the tenant that the policy is a firm one and you have the intention of enforcing it.
- Everyone happens to be the same: Irrespective of the situations you are undergoing, all the tenants have to be held to the same guidelines and standards. Thus, you have to ensure that from the beginning, that is clear, and in turn, avoid some of the negotiating and pleading attempts that some tenants might have.