How to Protect Yourself from Bad Tenants with IScreenTenants
Cover yourself with the protection of a lease., Never make a verbal agreement with any tenant., Make clear to tenants that if the lease is broken they will be held responsible for the remaining months of the lease that they do not live on the...
Step-by-Step Guide
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Step 1: Cover yourself with the protection of a lease.
Every tenant you lease to should have a copy of the signed lease agreement.
Make rules very clear at signing and stick to them no matter what the situation.
You're in the business to make money, not be a homeless shelter. -
Step 2: Never make a verbal agreement with any tenant.
This never holds up in court if you ever have to go that route to re-coop rent or damages. ,, This way you can keep an eye on what's going on.
Also insist they have to set aside a time every month for you to come in the house and change the air filters in the heating and air units.
That way you know whether or not if the property is being taken care of or if it is being vandalized. , It saves time,and tenants can't use the old excuse, "its in the mail". , This causes stress on the landlord and is not a good business policy. , A good lease agreement is vital.
Have your accountant or attorney draw up a lease that coincides with the landlord tenant laws in your state, This will save you so much time and money. , If a tenant can pass a background check and credit check, he is more likely to be a good renter than someone who has bad credit. ,, This is just asking for trouble when they leave, not all people take care of their pets and clean up after them and the landlord gets the problem of cleaning when they leave and it can be very expensive replacing flooring. , However you may feel about this person, you have to remember you're in the business to make money, you cannot let personal issues influence your ability to landlord properly, deal with these situations firmly, professionally, and sympathetically, if he cannot pay what he owes then inform him of his signed lease, and take appropriate actions. , make sure the date and time is set on the camera make a statement that this is (whatever address your leasing) and this is the recorded condition before property is leased. , -
Step 3: Make clear to tenants that if the lease is broken they will be held responsible for the remaining months of the lease that they do not live on the property.
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Step 4: Do all of the yard work if this is possible.
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Step 5: If possible go to the property and collect the rent in person.
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Step 6: Eventually you will have to deal with late payers
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Step 7: (people who do not pay rent when it is due) you should always have a clause in your lease or rental agreement that states
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Step 8: there will be a daily charge for everyday the rent is late
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Step 9: don't go over one week without collecting rent.
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Step 10: There are people who will try to take advantage of you.
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Step 11: Never enter into a lease agreement without first doing a background
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Step 12: credit
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Step 13: and employment verification.
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Step 14: Always ask for former rental references
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Step 15: take the time to call their former landlord
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Step 16: ask questions
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Step 17: were they on time with rental payments
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Step 18: did they break the lease
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Step 19: did they leave the property in a satisfactory condition
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Step 20: and most importantly
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Step 21: why did they leave.
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Step 22: Never allow pets.
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Step 23: Eventually you will have a tenant fall on hard times
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Step 24: its unfortunate.
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Step 25: When getting ready to lease a property do a walkthrough inside and out with a video camera
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Step 26: paying attention to carpets
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Step 27: windows
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Step 28: and trim.
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Step 29: When tenant leaves the property and keys are turned over
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Step 30: make another video of the condition the house was left it
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Step 31: in case of damages you will have a recording of the condition it was left in
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Step 32: and what was damaged
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Step 33: with the time and date.
Detailed Guide
Every tenant you lease to should have a copy of the signed lease agreement.
Make rules very clear at signing and stick to them no matter what the situation.
You're in the business to make money, not be a homeless shelter.
This never holds up in court if you ever have to go that route to re-coop rent or damages. ,, This way you can keep an eye on what's going on.
Also insist they have to set aside a time every month for you to come in the house and change the air filters in the heating and air units.
That way you know whether or not if the property is being taken care of or if it is being vandalized. , It saves time,and tenants can't use the old excuse, "its in the mail". , This causes stress on the landlord and is not a good business policy. , A good lease agreement is vital.
Have your accountant or attorney draw up a lease that coincides with the landlord tenant laws in your state, This will save you so much time and money. , If a tenant can pass a background check and credit check, he is more likely to be a good renter than someone who has bad credit. ,, This is just asking for trouble when they leave, not all people take care of their pets and clean up after them and the landlord gets the problem of cleaning when they leave and it can be very expensive replacing flooring. , However you may feel about this person, you have to remember you're in the business to make money, you cannot let personal issues influence your ability to landlord properly, deal with these situations firmly, professionally, and sympathetically, if he cannot pay what he owes then inform him of his signed lease, and take appropriate actions. , make sure the date and time is set on the camera make a statement that this is (whatever address your leasing) and this is the recorded condition before property is leased. ,
About the Author
Larry Price
Professional writer focused on creating easy-to-follow home improvement tutorials.
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