Its not uncommon for damage to come from tenant activities in the home. But landlords have plenty of options to help them. In fact, there are many actions that property owners can take to minimize risks and consequences of tenant damage.
Here are steps to take:
Screen Your Prospects
Screening your prospective renters allows you to filter out anyone who could be a headache later on. It’s important to be thorough during your screening and contact the references stated in their application forms.
Additionally, reaching out to their former landlords gives you a glimpse of what’s to come and how the potential tenant will treat your space. Learning if a tenant will be responsible enough to perform their responsibilities in taking care of your property is important.
Aside from interviewing prior landlords, you can also review their rent history, examine the credit score and evaluate if the prospect is earning enough to meet the monthly rent dues. You must also check the tenant’s employment history and criminal record.
Prepare a Solid Leasing Agreement
When you craft a detailed and solid rental agreement, you may eliminate some future conflicts with your renters. It’s critical then to include policies on smoking, lighting candles and reporting property issues right away.
Take time to help your tenants understand your rules and to make it clear what you expect from them. They must perform reasonable maintenance and be aware of their responsibilities prior to signing the contract. This clarifies expectations for both the landlord and tenants.
If you’re renting out an unfurnished unit, chances are, your new tenant would be bringing in their own furnishings and appliances. This can cause damage to your rental in the form of dents and scratches when the items bumped into the walls, doors and floors of your property.
Landlords can minimize this type of damage by preparing ahead of time. You can instruct the renters to wrap their furniture in a plastic wrap or blanket. This would go a long way to reduce any scrapes and stains in the rental home.
Perform Property Inspections
Keeping an eye on the condition of your rental home is part of your duty as a landlord. These actions ensure that the unit remains its habitable. You can schedule different kinds of property inspections such as move-in inspection, move-out inspection, drive-by inspection and a seasonal inspection.
Conducting inspections regularly has plenty of advantages. First, you are aware of property issues that need to be addressed. Second, you can guarantee that your rental home remains compliant to the safety and building codes. Third, you can see for yourself whether your property needs renovations to increase its value. This contributes to retaining your tenants for a long time.
Invest in the Right Upgrades
Even if you’re tempted to update your flooring, appliances and countertops with cheaper alternatives, it’s important to consider investing for the long term. High quality materials last longer and are much more durable.
When you have solid furnishings in your rental home, you’ll feel more confident knowing that natural wear and tear will take longer. Focus on investing in the right amenities that will increase the renter’s sense of comfort and convenience.
Prioritize Finding Renters
Empty rental units mean less cashflow, maintenance is still required even if there is no income. You may also need to beef up your security since vacant properties can attract more trespassers.
Here are some ways you can protect your vacant rental:
- Conduct regular visits and take time to check the entire place from the exterior to the interiors.
- Invest in a modern security system and check the safety of your entrance access points.
- Maintain your curb appeal so it shows signs that someone is watching over the property.
- Set up more lighting to discourage intruders.
Build Good Relationships
A landlord can establish the success of their rental business by cultivating harmonious relationships with their tenants. To achieve this, a landlord has to be both reliable and responsive. When property issues are brought up by your renters, arranging for repairs right away will be appreciated.
Honoring your tenant’s privacy is also a great way to show respect. So, send notices before a property inspection. Offer peace and quiet by minimizing disturbances around your property. One of the chief complaints of tenants is noise. If you can create a peaceful environment, your tenants will be happy.
Ask for a Security Deposit
An effective way to encourage renters to maintain the property and reduce tenant damage is collecting a security deposit. Tenants will be more cautious and attentive to the rental.
All tenants want their security deposit to be refunded so they’re inclined to respect your property. They’ll also report property issues and refrain from neglecting or abusing any part of the unit.
These are tried-and-tested ways to eliminate or keep tenant damages at a minimum in your rental home. If your time is limited to perform your landlord duties, then the best option is to hire a professional property management company.
Windermere Property Management offers a full range of property management services. Rental owners will benefit a lot and gain more convenience. Maintaining your property is a high priority. Engaging our services reassures the landlords that their property is well taken care of.