As a landlord, it can be easy to get caught up with the business of running a property, especially if you have multiple properties. With so many things to do and places to be, it would be easy to forget about the basics. When renting out a property, it is important to be aware of the safety of the building. To ensure everything runs smoothly, landlords are required to carry out routine inspections and take preventative measures when it comes to property maintenance. In addition, tenants are also partly responsible for keeping the rental unit safe and in good condition.
Here are five tips from the experts at Rent In Brevard that you can follow to help keep your property investment safe.
Use Legal Lease Agreements
As any landlord knows, a home is often the largest personal asset that individuals will ever own. Landlords commonly face complex questions as to how to shield their property as well as themselves from liability. In order to help tenants and landlords, you can mitigate these issues with carefully drafted lease agreements and clear tenant expectations.
One of the most significant problems that landlords face is damage to their property. Even seemingly minor issues can necessitate costly repairs and put your rental property and tenants at risk. To avoid this, landlords should utilize lease agreements that cover all parties’ rights and responsibilities, including clauses on:
Risks outside of the landlord’s control
By working with your tenants to develop a clear understanding of your expectations and theirs, you can help prevent misunderstandings and mitigate property damage and conflict issues.
Schedule Regular Safety Inspections
To make sure your rental property stays in good shape, it is essential that you carry out regular maintenance and safety checks to ensure everything is working as it should be. At a minimum, this should involve testing all appliances to ensure they’re safe and also verifying that all smoke and carbon monoxide detectors are functioning correctly.
Screen Potential Tenants
Not everyone who sublets or rents a property is living up to their end of the lease. If you are in the business of renting properties to tenants, don’t forget that it’s crucial to do your due diligence executing the lease agreement.
A background check on potential tenants can help determine if they will be a good fit for your property. It’s essential to be confident that your tenant can make their rental payments timely and consistently and that they will abide by the lease terms.
Your background check should include a potential tenant’s credit and employment history and criminal record. In addition to general background checks, an excellent way to learn more about a possible new tenant is to ask their past landlords for references.
Install A Security Alarm
If your property is vacant, it’s important to deter would-be thieves and squatters. Door and window alarms can serve as both an alert system and a deterrent. If you’re budget-conscious, there are a lot of alternatives to professional security monitoring. In fact, depending on your specific situation, you may be able to handle the installment and removal yourself.
Hire a Property Manager
Being a landlord takes a lot of work. If you are unfamiliar with managing your rental property, you might find you simply don’t have the time or experience needed to keep your tenants happy and your property in top-notch condition. Fortunately, you can hire a professional property manager to help you oversee your rental operations.
Hiring an experienced Brevard County property manager means you can focus on other aspects of your life while having peace of mind knowing your property is receiving expert care. Most importantly — all tenants greatly appreciate good property managers.
If you’re a Brevard County landlord, Rent In Brevard Property Management is here to help you take care of your business and maximize your profits. Take the hassle out of managing your property — Contact us today to learn more about our full-service property management options.